PowerBank (NASDAQ:PBK) Rating Increased to Hold at Zacks Research

PowerBank (NASDAQ:PBK) was upgraded by analysts at Zacks Research to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a research report on Wednesday, April 8th. HC Wainwright reiterated a “buy” rating on shares of PowerBank in a research report on Wednesday. Wall Street Zen lowered shares of PowerBank from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Freedom Capital downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Finally, Citigroup reissued a “buy” rating on shares of PowerBank in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.00.

PowerBank Stock Down 11.4%

PBK stock opened at $0.92 on Thursday. The firm has a market cap of $43.58 million, a PE ratio of -4.85 and a beta of 2.23. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.79 and a current ratio of 1.41. The firm’s fifty day moving average is $0.72 and its 200 day moving average is $1.14. PowerBank has a one year low of $0.45 and a one year high of $2.55.

PowerBank (NASDAQ:PBK) last released its quarterly earnings results on Thursday, May 21st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). PowerBank had a negative net margin of 21.31% and a negative return on equity of 32.68%. The firm had revenue of ($0.03) million for the quarter, compared to analyst estimates of $5.43 million. On average, research analysts forecast that PowerBank will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of PowerBank in the second quarter valued at approximately $28,000. Citadel Advisors LLC acquired a new position in shares of PowerBank in the third quarter valued at approximately $52,000. HRT Financial LP acquired a new position in shares of PowerBank in the fourth quarter valued at approximately $55,000. Virtu Financial LLC acquired a new position in shares of PowerBank in the fourth quarter valued at approximately $63,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of PowerBank by 416.1% in the fourth 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.

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.