PowerBank (NASDAQ:SUUN) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• PowerBank (NASDAQ:SUUN) reported a quarterly earnings per share (EPS) of $0.08, exceeding analysts' expectations of ($0.03) by $0.11.
• Despite beating EPS expectations, the company's revenue of $12.14 million fell short of the anticipated $21.94 million, indicating ongoing financial challenges.
• Analysts have a consensus rating of "Buy" for PowerBank, with a target price averaging $5.00, suggesting potential for stock appreciation despite recent trading declines.

PowerBank (NASDAQ:SUUN - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.11, Zacks reports. The firm had revenue of $12.14 million during the quarter, compared to analysts' expectations of $21.94 million. PowerBank had a negative net margin of 40.54% and a negative return on equity of 24.80%.

PowerBank Stock Down 2.4%

NASDAQ:SUUN traded down $0.04 on Friday, hitting $1.64. 67,630 shares of the company's stock were exchanged, compared to its average volume of 289,773. The company has a market cap of $60.09 million, a P/E ratio of -3.67 and a beta of 0.81. The firm has a 50-day moving average price of $1.75 and a 200-day moving average price of $1.91. PowerBank has a 52 week low of $1.23 and a 52 week high of $6.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.94.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. D. Boral Capital assumed coverage on shares of PowerBank in a report on Tuesday, July 8th. They issued a "buy" rating and a $4.00 price target for the company. D Boral Capital raised shares of PowerBank to a "strong-buy" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, PowerBank has a consensus rating of "Buy" and a consensus target price of $5.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PowerBank stock. Jane Street Group LLC purchased a new stake in PowerBank Corporation (NASDAQ:SUUN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,388 shares of the company's stock, valued at approximately $28,000. Jane Street Group LLC owned about 0.05% of PowerBank as of its most recent filing with the Securities and Exchange Commission.

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.

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