PowerBank Corporation (NASDAQ:PBK) Short Interest Up 155.1% in June

PowerBank Corporation (NASDAQ:PBK) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,975,844 shares, an increase of 155.1% from the June 15th total of 1,166,670 shares. Based on an average daily volume of 11,861,434 shares, the short-interest ratio is presently 0.3 days. Currently, 5.2% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of PowerBank in a report on Wednesday, April 8th. Wall Street Zen lowered PowerBank from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. Citigroup restated a “buy” rating on shares of PowerBank in a research report on Wednesday, May 20th. Zacks Research raised PowerBank to a “hold” rating in a research note on Thursday, June 4th. Finally, HC Wainwright reiterated a “buy” rating on shares of PowerBank in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

PowerBank Stock Down 7.6%

NASDAQ:PBK opened at $0.62 on Tuesday. The company has a market cap of $35.22 million, a price-to-earnings ratio of -3.27 and a beta of 2.32. PowerBank has a twelve month low of $0.45 and a twelve month high of $2.55. The company has a current ratio of 1.41, a quick ratio of 0.79 and a debt-to-equity ratio of 2.24. The stock has a fifty day simple moving average of $0.81 and a 200-day simple moving average of $0.98.

PowerBank (NASDAQ:PBK) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of ($0.02) million during the quarter, compared to the consensus estimate of $5.43 million. PowerBank had a negative return on equity of 32.68% and a negative net margin of 21.31%. Analysts anticipate that PowerBank will post -0.23 EPS for the current year.

Institutional Trading of PowerBank

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC bought a new position in PowerBank in the fourth quarter worth approximately $191,000. Goldman Sachs Group Inc. increased its stake in shares of PowerBank by 416.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 98,359 shares of the company’s stock valued at $178,000 after buying an additional 79,302 shares during the period. Virtu Financial LLC bought a new stake in shares of PowerBank in the fourth quarter valued at about $63,000. Citadel Advisors LLC purchased a new stake in PowerBank in the third quarter worth about $52,000. Finally, HRT Financial LP bought a new position in PowerBank during the 4th quarter worth about $55,000.

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.