PowerBank Corporation (NASDAQ:SUUN) Sees Large Increase in Short Interest

PowerBank Corporation (NASDAQ:SUUN - Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 489,300 shares, anincreaseof58.0% from the July 15th total of 309,600 shares. Currently,2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 318,700 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 318,700 shares, the short-interest ratio is currently 1.5 days. Currently,2.2% of the shares of the stock are sold short.

Institutional Trading of PowerBank

Institutional investors and hedge funds have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft acquired a new stake in PowerBank during the 1st quarter worth $35,000. Parallel Advisors LLC acquired a new position in PowerBank in the first quarter valued at about $42,000. Finally, Jane Street Group LLC bought a new stake in shares of PowerBank in the second quarter worth about $28,000.

PowerBank Trading Up 10.3%

Shares of PowerBank stock traded up $0.22 on Thursday, hitting $2.36. 433,785 shares of the company's stock traded hands, compared to its average volume of 281,351. The firm's 50-day moving average price is $1.57 and its two-hundred day moving average price is $2.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.94. The stock has a market capitalization of $84.28 million, a PE ratio of -5.22 and a beta of 0.92. PowerBank has a one year low of $1.23 and a one year high of $6.43.

Analyst Upgrades and Downgrades

SUUN has been the subject of a number of research analyst reports. D. Boral Capital initiated coverage on shares of PowerBank in a research note on Tuesday, July 8th. They issued a "buy" rating and a $4.00 target price for the company. D Boral Capital raised shares of PowerBank to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Alliance Global Partners began coverage on shares of PowerBank in a research report on Wednesday, April 23rd. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $5.00.

About PowerBank

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.