PowerBank Corporation (NASDAQ:SUUN) Short Interest Update

PowerBank Corporation (NASDAQ:SUUN) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,575,534 shares, a growth of 71.5% from the January 29th total of 918,742 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,694,728 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 2,694,728 shares, the days-to-cover ratio is currently 0.6 days. Approximately 3.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SUUN. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a research note on Friday, January 9th. Wall Street Zen cut shares of PowerBank from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 14th. Finally, Freedom Capital downgraded shares of PowerBank from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.00.

PowerBank Price Performance

NASDAQ:SUUN traded up $0.04 during mid-day trading on Monday, reaching $0.82. 277,516 shares of the company were exchanged, compared to its average volume of 2,150,542. 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 stock has a market cap of $38.24 million, a PE ratio of -3.15 and a beta of 1.28. PowerBank has a 12 month low of $0.73 and a 12 month high of $4.99. The company has a fifty day moving average of $1.49 and a 200 day moving average of $1.67.

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

Institutional Investors Weigh In On PowerBank

A number of institutional investors and hedge funds have recently modified their holdings of SUUN. Jane Street Group LLC acquired a new position in PowerBank in the second quarter valued at about $28,000. NWF Advisory Services Inc. bought a new position in shares of PowerBank during the 3rd quarter valued at about $46,000. HRT Financial LP bought a new position in shares of PowerBank during the 4th quarter valued at about $55,000. Citadel Advisors LLC acquired a new position in shares of PowerBank in the 3rd quarter valued at approximately $52,000. Finally, Virtu Financial LLC bought a new stake in PowerBank during the 4th quarter worth approximately $63,000.

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.