PowerBank Corporation (NASDAQ:SUUN) Short Interest Up 46.6% in December

PowerBank Corporation (NASDAQ:SUUN) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 904,152 shares, an increase of 46.6% from the December 15th total of 616,937 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average trading volume of 2,690,849 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 2,690,849 shares, the days-to-cover ratio is presently 0.3 days. Currently, 2.2% of the company’s stock are short sold.

PowerBank Stock Down 1.2%

Shares of NASDAQ SUUN opened at $1.61 on Monday. The stock has a market cap of $68.18 million, a PE ratio of -10.06 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.97 and a debt-to-equity ratio of 2.56. PowerBank has a 52-week low of $1.23 and a 52-week high of $6.43. The business has a 50-day moving average price of $1.64 and a 200 day moving average price of $1.69.

Institutional Investors Weigh In On PowerBank

Large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of PowerBank in the 2nd quarter valued at $28,000. Parallel Advisors LLC boosted its stake in PowerBank by 57.4% during the 2nd quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock worth $42,000 after purchasing an additional 10,000 shares during the period. NWF Advisory Services Inc. purchased a new position in PowerBank during the 3rd quarter worth $46,000. Finally, Citadel Advisors LLC acquired a new position in PowerBank in the third quarter valued at $52,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SUUN shares. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research note on Friday, January 9th. Wall Street Zen raised shares of PowerBank from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.00.

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.