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

Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 37,202 shares, a drop of 64.5% from the July 15th total of 104,790 shares. Based on an average daily volume of 31,429 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.3% of the shares of the company are short sold.

Sunrise New Energy Stock Performance

Shares of Sunrise New Energy stock traded down $0.00 on Friday, reaching $0.55. The company’s stock had a trading volume of 83,349 shares, compared to its average volume of 239,296. The stock has a 50-day moving average price of $0.55 and a 200-day moving average price of $0.69. The company has a quick ratio of 0.48, a current ratio of 0.72 and a debt-to-equity ratio of 2.50. Sunrise New Energy has a 52-week low of $0.35 and a 52-week high of $1.86.

Sunrise New Energy (NASDAQ:EPOW) last issued its quarterly earnings results 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.

Institutional Investors Weigh In On Sunrise New Energy

A hedge fund recently bought a new stake in Sunrise New Energy stock. XTX Topco Ltd bought a new position in shares of Sunrise New Energy Co., Ltd. (NASDAQ:EPOW) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 29,799 shares of the company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.12% 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.

Analysts Set New Price Targets

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

About Sunrise New Energy

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.