PowerBank (NASDAQ:SUUN) Announces Earnings Results

PowerBank (NASDAQ:SUUN) announced its quarterly earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07), Zacks reports. The business had revenue of ($0.03) million for the quarter, compared to analysts’ expectations of $5.43 million. PowerBank had a negative return on equity of 32.68% and a negative net margin of 21.31%.

PowerBank Trading Up 9.2%

Shares of SUUN opened at $0.72 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $33.83 million, a P/E ratio of -3.76 and a beta of 1.62. The stock’s fifty day simple moving average is $0.63 and its 200 day simple moving average is $1.17. PowerBank has a twelve month low of $0.45 and a twelve month high of $2.55.

Wall Street Analysts Forecast Growth

Several analysts have commented on SUUN shares. Wall Street Zen downgraded PowerBank from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Citigroup reiterated a “buy” rating on shares of PowerBank in a research report on Wednesday. Freedom Capital cut PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SUUN. Jane Street Group LLC purchased a new position in shares of PowerBank in the 4th quarter worth $191,000. Goldman Sachs Group Inc. increased its holdings in PowerBank by 416.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after purchasing an additional 79,302 shares in the last quarter. Virtu Financial LLC acquired a new stake in PowerBank in the 4th quarter valued at $63,000. Citadel Advisors LLC acquired a new stake in PowerBank in the 3rd quarter valued at $52,000. Finally, HRT Financial LP acquired a new stake in PowerBank in the 4th quarter valued at $55,000.

PowerBank Company Profile

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.