Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Sees Significant Decline in Short Interest
by Amy Steele · The Cerbat GemSunrise New Energy Co., Ltd. (NASDAQ:EPOW – Get Free Report) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 19,463 shares, a decrease of 53.2% from the April 15th total of 41,592 shares. Based on an average daily trading volume, of 29,560 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the shares of the company are short sold.
Institutional Investors Weigh In On Sunrise New Energy
A hedge fund recently bought a new stake in Sunrise New Energy stock. Yong Rong HK Asset Management Ltd acquired a new position in shares of Sunrise New Energy Co., Ltd. (NASDAQ:EPOW – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,000,000 shares of the company’s stock, valued at approximately $6,861,000. Sunrise New Energy accounts for approximately 2.1% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 9th biggest position. Yong Rong HK Asset Management Ltd owned 27.60% of Sunrise New Energy as of its most recent SEC filing. 31.86% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings downgraded shares of Sunrise New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.
View Our Latest Research Report on EPOW
Sunrise New Energy Price Performance
Shares of NASDAQ EPOW traded down $0.05 during midday trading on Friday, reaching $0.66. 163,048 shares of the stock were exchanged, compared to its average volume of 533,405. Sunrise New Energy has a twelve month low of $0.57 and a twelve month high of $1.86. The firm has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $0.91.
Sunrise New Energy (NASDAQ:EPOW – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.26) EPS for the quarter. The firm had revenue of $9.22 million for the quarter.
About Sunrise New Energy
Sunrise New Energy Technologies, Inc (NASDAQ: EPOW) is a Delaware-based holding company focused on the development, manufacturing and sale of advanced energy solutions. Through its operating subsidiaries, the company provides battery systems, energy storage modules and power management software designed to support electric vehicles, renewable energy integration and portable power applications. Its offerings include lithium-ion battery packs, battery management systems (BMS) and turnkey energy storage solutions suitable for residential, commercial and industrial use.
The company’s product lineup is engineered to deliver high energy density, long cycle life and robust safety features.