PowerBank (NASDAQ:SUUN) Issues Quarterly Earnings Results, Misses Estimates By $0.13 EPS

PowerBank (NASDAQ:SUUN) posted its quarterly earnings results on Thursday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.13), Zacks reports. PowerBank had a negative net margin of 7.07% and a positive return on equity of 3.48%.

PowerBank Price Performance

PowerBank stock traded down $0.10 on Thursday, reaching $1.22. The company’s stock had a trading volume of 2,457,748 shares, compared to its average volume of 2,560,512. PowerBank has a twelve month low of $1.19 and a twelve month high of $5.94. The company has a market cap of $56.82 million, a price-to-earnings ratio of -7.63 and a beta of 0.60. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.67 and a current ratio of 0.97. The business’s fifty day moving average price is $1.63 and its 200 day moving average price is $1.71.

Institutional Trading of PowerBank

A number of hedge funds and other institutional investors have recently modified their holdings of SUUN. Goldman Sachs Group Inc. lifted its holdings in PowerBank by 416.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock worth $178,000 after buying an additional 79,302 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of PowerBank during the third quarter worth $52,000. Finally, Jane Street Group LLC acquired a new position in shares of PowerBank during the second quarter valued at $28,000.

Wall Street Analysts Forecast Growth

SUUN has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of PowerBank from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

About PowerBank

PowerBank Corporation, formerly known as SolarBank Corporation, operates as an independent renewable and clean energy project developer and asset operator in Canada and the United States. The company engages in the site origination, development, financing, engineering, procurement, construction, operation, maintenance, and asset management of solar photovoltaic power generation projects. It offers solar energy solutions in the areas of behind-the-meter solar power plants, electricity grid connected community solar gardens, and utility scale solar farms.