Short Interest in Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Decreases By 53.2%

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 19,463 shares, a decline of 53.2% from the April 15th total of 41,592 shares. Based on an average daily volume of 29,560 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Sunrise New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Sunrise New Energy Trading Down 7.0%

EPOW stock traded down $0.05 during trading on Friday, hitting $0.66. The stock had a trading volume of 163,047 shares, compared to its average volume of 232,489. The company’s 50 day moving average price is $0.77 and its two-hundred day moving average price is $0.91. Sunrise New Energy has a 1-year low of $0.57 and a 1-year high of $1.86.

Sunrise New Energy (NASDAQ:EPOW) last announced its earnings results on Thursday, May 14th. The company reported ($0.26) earnings per share for the quarter. The company had revenue of $9.22 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sunrise New Energy stock. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,000,000 shares of the company’s stock, valued at approximately $6,861,000. Sunrise New Energy comprises approximately 2.1% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 9th biggest holding. Yong Rong HK Asset Management Ltd owned about 27.60% of Sunrise New Energy at the end of the most recent quarter. 31.86% of the stock is currently owned by institutional investors.

About Sunrise New Energy

Sunrise New Energy Technologies, Inc (NASDAQ: EPOW) is a Delaware-based holding company focused on the development, manufacturing and sale of advanced energy solutions. Through its operating subsidiaries, the company provides battery systems, energy storage modules and power management software designed to support electric vehicles, renewable energy integration and portable power applications. Its offerings include lithium-ion battery packs, battery management systems (BMS) and turnkey energy storage solutions suitable for residential, commercial and industrial use.

The company’s product lineup is engineered to deliver high energy density, long cycle life and robust safety features.