Sunrise New Energy (NASDAQ:EPOW) Stock Price Down 3.8% – Here’s What Happened

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW)’s share price fell 3.8% on Thursday . The company traded as low as $0.3902 and last traded at $0.4050. Approximately 144,766 shares traded hands during trading, an increase of 289% from the average session volume of 37,225 shares. The stock had previously closed at $0.4210.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Sunrise New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Sunrise New Energy Stock Down 3.8%

The company has a current ratio of 0.72, a quick ratio of 0.48 and a debt-to-equity ratio of 2.50. The stock has a 50-day moving average price of $0.57 and a 200-day moving average price of $0.70.

Sunrise New Energy (NASDAQ:EPOW) last posted its quarterly earnings data 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.

Hedge Funds Weigh In On Sunrise New Energy

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) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,000,000 shares of the company’s stock, valued at approximately $6,861,000. Sunrise New Energy makes up approximately 2.1% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 9th biggest position. Yong Rong HK Asset Management Ltd owned 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 and hedge funds.

Sunrise New Energy Company Profile

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.