Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) Sees Significant Decline in Short Interest

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 9,399 shares, a drop of 93.9% from the September 15th total of 153,542 shares. Based on an average daily volume of 36,112 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Sunrise New Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Sunrise New Energy has an average rating of “Sell”.

Sunrise New Energy Trading Down 0.9%

EPOW stock traded down $0.03 during mid-day trading on Friday, hitting $3.28. 16,734 shares of the company were exchanged, compared to its average volume of 31,393. Sunrise New Energy has a 1-year low of $3.20 and a 1-year high of $35.25. The business has a 50 day simple moving average of $8.75 and a 200-day simple moving average of $13.94.

About Sunrise New Energy

Sunrise New Energy Co, Ltd. is a China-based company focused on the production and sale of anode materials used in lithium-ion batteries. Its products are designed for applications including electric vehicles, energy-storage systems, and consumer electronics.

The company’s operations are centered on the research, development, manufacturing, and commercialization of graphite-based battery anode materials. Sunrise New Energy has reported production activities in Guizhou Province, China, and serves customers in the broader lithium-ion battery supply chain.

Sunrise New Energy is led by Haiping Hu, who serves as chairman and chief executive officer.