PowerBank (NASDAQ:SUUN) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of PowerBank (NASDAQ:SUUN) from a hold rating to a strong sell rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

PowerBank Stock Down 7.4%

Shares of NASDAQ:SUUN opened at $1.13 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.14 and a debt-to-equity ratio of 2.47. The firm has a market cap of $52.62 million, a P/E ratio of -4.35 and a beta of 0.60. PowerBank has a 12 month low of $1.11 and a 12 month high of $5.94. The company’s 50-day moving average price is $1.61 and its two-hundred day moving average price is $1.70.

PowerBank (NASDAQ:SUUN) last announced its earnings results on Thursday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.18). PowerBank had a negative return on equity of 16.47% and a negative net margin of 21.31%.The company had revenue of $2.23 million during the quarter, compared to the consensus estimate of $10.10 million. As a group, research analysts forecast that PowerBank will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On PowerBank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SUUN. Jane Street Group LLC acquired a new stake in shares of PowerBank in the 4th quarter valued at approximately $191,000. HRT Financial LP acquired a new position in PowerBank during the fourth quarter valued at approximately $55,000. Goldman Sachs Group Inc. increased its stake in 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. Citadel Advisors LLC acquired a new stake in PowerBank in the third quarter worth $52,000. Finally, NWF Advisory Services Inc. bought a new position in shares of PowerBank during the third quarter worth $46,000.

About PowerBank

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.