PowerBank Corporation (NASDAQ:PBK) Shares Shorted: Short Interest Down 50.0% in September

PowerBank Corporation (NASDAQ:PBK) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 699,334 shares, a decrease of 50.0% from the August 31st total of 1,398,398 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 1,630,602 shares, the short-interest ratio is presently 0.4 days.

PowerBank Stock Up 10.9%

Shares of PowerBank stock traded up $0.03 during midday trading on Wednesday, reaching $0.29. 4,155,835 shares of the company’s stock traded hands, compared to its average volume of 1,978,647. PowerBank has a 52 week low of $0.26 and a 52 week high of $2.35. The company’s 50 day simple moving average is $0.41 and its 200 day simple moving average is $0.61. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.79 and a current ratio of 1.41. The company has a market cap of $17.86 million, a price-to-earnings ratio of -0.69 and a beta of 2.38.

PowerBank (NASDAQ:PBK) last released its quarterly earnings results on Monday, September 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.17). PowerBank had a negative return on equity of 92.34% and a negative net margin of 21.31%.The company had revenue of $3.65 million for the quarter. Equities analysts expect that PowerBank will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

PBK has been the topic of several research reports. Zacks Research upgraded shares of PowerBank to a “hold” rating in a research report on Thursday, June 4th. HC Wainwright reaffirmed a “buy” rating on shares of PowerBank in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, PowerBank has an average rating of “Hold”.

About PowerBank

PowerBank Corporation (NASDAQ: PBK) is a renewable energy company that develops, constructs, owns and operates solar power and energy-storage projects. Its activities include distributed-generation and community-solar projects designed to supply electricity to residential, commercial and utility customers.

The company’s project portfolio has included solar installations and related energy-storage assets in the United States and Canada. PowerBank is involved throughout the project lifecycle, including site development, permitting, engineering, procurement, construction management, financing and ongoing asset operations.

The company was previously known as SolarBank Corporation and is headquartered in Toronto, Canada.