Brokerages Set PowerBank Corporation (NASDAQ:SUUN) Target Price at $5.00

PowerBank Corporation (NASDAQ:SUUN) has received an average rating of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.00.

SUUN has been the subject of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of PowerBank in a report on Friday, January 9th. Wall Street Zen raised shares of PowerBank from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in shares of PowerBank by 57.4% during the 2nd quarter. Parallel Advisors LLC now owns 27,422 shares of the company’s stock worth $42,000 after purchasing an additional 10,000 shares during the last quarter. Jane Street Group LLC acquired a new position in PowerBank during the second quarter worth $28,000. NWF Advisory Services Inc. acquired a new position in PowerBank during the third quarter worth $46,000. Finally, Citadel Advisors LLC bought a new stake in PowerBank during the third quarter worth $52,000.

PowerBank Trading Down 1.2%

NASDAQ SUUN opened at $1.61 on Friday. 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 2.56, a quick ratio of 0.67 and a current ratio of 0.97. The stock’s 50 day moving average price is $1.64 and its two-hundred day moving average price is $1.69. The stock has a market capitalization of $68.18 million, a price-to-earnings ratio of -10.06 and a beta of 0.59.

About PowerBank

PowerBank Corporation, formerly known as 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. It offers solar energy solutions in the areas of behind-the-meter solar power plants, electricity grid connected community solar gardens, and utility scale solar farms.