PowerBank (NASDAQ:SUUN) Issues Earnings Results

by · The Cerbat Gem

PowerBank (NASDAQ:SUUN – Get Free Report) posted its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07), Zacks reports. The company had revenue of ($0.03) million for the quarter, compared to analysts’ expectations of $5.43 million. PowerBank had a negative net margin of 21.31% and a negative return on equity of 16.47%.

PowerBank Price Performance

Shares of SUUN traded down $0.01 during trading hours on Friday, reaching $0.66. 220,708 shares of the company’s stock traded hands, compared to its average volume of 1,245,184. The stock has a market cap of $31.27 million, a PE ratio of -2.54 and a beta of 1.62. The company has a current ratio of 1.14, a quick ratio of 0.76 and a debt-to-equity ratio of 2.47. The firm’s 50 day simple moving average is $0.64 and its 200-day simple moving average is $1.21. PowerBank has a 12 month low of $0.45 and a 12 month high of $2.55.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Freedom Capital downgraded PowerBank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Wall Street Zen downgraded PowerBank from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. 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 and two have assigned a Sell rating to the company. According to MarketBeat, PowerBank currently has a consensus rating of “Hold” and an average target price of $4.00.

Read Our Latest Analysis on SUUN

Institutional Trading of PowerBank

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in PowerBank in the 2nd quarter worth approximately $28,000. HRT Financial LP bought a new stake in PowerBank in the 4th quarter worth approximately $55,000. Citadel Advisors LLC bought a new stake in PowerBank in the 3rd quarter worth approximately $52,000. Virtu Financial LLC bought a new stake in PowerBank in the 4th quarter worth approximately $63,000. Finally, Goldman Sachs Group Inc. lifted its position in PowerBank by 416.1% in 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 during the last quarter.

About PowerBank

(Get Free Report)

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.

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