Sector Update: Energy Stocks Rise in Thursday Afternoon Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2024
0mins
Should l Buy SUUN?
Source: NASDAQ.COM
Energy Market Overview: Energy stocks showed mixed performance, with the NYSE Energy Sector Index slightly up by 0.1%, while crude oil prices increased, and natural gas futures fell significantly. US natural gas stocks saw a larger-than-expected rise.
Corporate Developments: SolarBank announced plans for a new solar project, PG&E is addressing wildfire risks from its power lines, and Halliburton experienced a cyberattack affecting operations, although its stock remained stable.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy SUUN?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on SUUN
Wall Street analysts forecast SUUN stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.796
Low
6.00
Averages
6.00
High
6.00
Current: 0.796
Low
6.00
Averages
6.00
High
6.00
About SUUN
PowerBank Corp, formerly SolarBank Corporation, is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The Company develops solar, battery energy storage systems (BESS) and EV charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. It has a diverse portfolio of projects across multiple North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PowerBank Secures NYSERDA Incentive Funding
- Incentive Funding: PowerBank's 2.6 MW Elmira Solar Project has been approved for up to $309,720 in incentives from NYSERDA, significantly reducing initial investment costs and enhancing economic viability.
- Additional Funding Opportunity: The project will enroll in the Inclusive Community Solar Adder stream of the NY-Sun program, potentially securing an additional $545,107, thereby further strengthening its financial stability and attractiveness.
- Community Impact: The project is expected to power approximately 325 homes annually, allowing residents to lower their electricity bills by participating in community solar, thus promoting the adoption and use of renewable energy.
- Strategic Development Goals: The implementation of this project will advance New York's goal of achieving 10 GW of solar capacity by 2030, further solidifying the state's leadership in community solar capacity in the U.S. and supporting the clean energy transition.
See More
PowerBank Secures NYSERDA Incentives for Solar Project
- Incentive Approval: PowerBank's 2.6 MW Elmira Solar Project has been approved for up to $309,720 in incentives, significantly reducing initial investment costs and enhancing the project's economic viability.
- Additional Funding Potential: The project will also enroll in the Inclusive Community Solar Adder (ICSA) stream of the NY-Sun program, potentially securing an additional $545,107, further strengthening its financial stability and attractiveness.
- Community Solar Benefits: The project is expected to power approximately 325 homes annually, allowing residents to earn credits on their electric bills, thereby reducing their cost per kWh and promoting sustainable community development.
- Strategic Development Goals: The project's implementation will support New York's goal of achieving 10 GW of solar capacity by 2030, reinforcing the state's leadership in community solar capacity in the U.S. while driving local economic and job growth.
See More
PowerBank Appoints New President to Drive Growth
- Leadership Change: PowerBank Corporation has appointed Andrew van Doorn as the new President while retaining his role as COO, leveraging his 28 years of industry experience and successful completion of over 200 MW of solar projects to accelerate the company's strategic growth in North America.
- Rich Project Experience: Van Doorn's extensive background in solar includes developing 32 MW of community solar projects in Minnesota and overseeing 140 MW of rooftop solar installations in Ontario, which is expected to enhance PowerBank's competitiveness in the renewable energy market.
- Strategic Expansion Plans: Under Van Doorn's leadership, PowerBank will continue to advance its development pipeline of over 1 GW of renewable energy projects, particularly in emerging markets such as space-based infrastructure and advanced data centers, which are anticipated to provide sustained growth opportunities for the company.
- Financing Plan Update: PowerBank also announced a new equity distribution agreement with H.C. Wainwright & Co. and others to sell up to $50 million of common shares through the market, aimed at supporting the company's business objectives and general corporate purposes.
See More
PowerBank Corporation Reports Significant Growth in 2025 Performance
- Significant Revenue Growth: PowerBank's Independent Power Producer (IPP) revenues surged by 1,508% in fiscal year 2025, reaching $9.3 million compared to $0.6 million in 2024, demonstrating the company's successful transition towards sustainable long-term revenue generation through asset ownership and operation.
- Project Development Expansion: The company executed equipment procurement agreements for 15 distributed solar and energy storage projects in New York State, totaling approximately 67 MW DC and 11 MWh of battery storage, expected to provide clean energy for 7,500 homes, further solidifying its market position in the region.
- Market Leadership: PowerBank holds a significant market share in Nova Scotia's Community Solar Program, aiming to add 100 MW of solar generation to the grid by 2030, supporting the province's commitment to 80% renewable energy, showcasing its strong execution capabilities across North America.
- Space Computing Infrastructure Collaboration: The partnership with Smartlink AI positions PowerBank at the intersection of renewable energy, artificial intelligence, and space infrastructure, marking a strategic move as the global satellite market is projected to reach $615 billion by 2032.
See More
PowerBank Reports 1H 2025 Financial Results
- Financial Performance: PowerBank's 1H 2025 GAAP EPS stands at -$0.18, with revenue reaching $22.3 million, indicating ongoing profitability challenges that may affect investor confidence.
- Cash Flow Improvement: Operating cash flow shifted from an outflow of $1.1 million in the same period of FY2025 to an inflow of $5.0 million, demonstrating significant progress in cash management that supports future operations and investments.
- Increase in Development Fees: Development fees rose from $2.2 million to $3.4 million, reflecting increased investment in new projects, which may pressure short-term profits but is expected to facilitate long-term business expansion.
- Growth in EPC Services and IPP Production: EPC services revenue increased from $12.3 million to $13.8 million, while IPP production revenue grew from $4.6 million to $5.1 million, indicating growth potential in engineering and production sectors that could lay the groundwork for future revenue increases.
See More
PowerBank Reports Strong Q2 Financial Results with Strategic Milestones
- Significant Revenue Growth: PowerBank reported revenues of CAD 22.3 million for the six months ended December 31, 2025, marking a 16.5% increase year-over-year, demonstrating the company's strong market demand and execution capabilities in the renewable energy sector.
- Improved Gross Margin: The company achieved a gross margin of 36%, reflecting ongoing improvements in cost control and operational efficiency, which further enhances its financial stability and profitability.
- Successful Strategic Collaboration: The partnership with Orbit AI has successfully launched, highlighting PowerBank's innovative capabilities in solar infrastructure, which is expected to drive future technological advancements and market expansion.
- Robust Project Pipeline: The company currently has over 1 GW in its development pipeline and secured a USD 41 million transaction with Solar Advocate Development, ensuring future revenue streams and competitive positioning in the market.
See More
PowerBank Secures NYSERDA Incentive Funding
- Incentive Funding: PowerBank's 2.6 MW Elmira Solar Project has been approved for up to $309,720 in incentives from NYSERDA, significantly reducing initial investment costs and enhancing economic viability.
- Additional Funding Opportunity: The project will enroll in the Inclusive Community Solar Adder stream of the NY-Sun program, potentially securing an additional $545,107, thereby further strengthening its financial stability and attractiveness.
- Community Impact: The project is expected to power approximately 325 homes annually, allowing residents to lower their electricity bills by participating in community solar, thus promoting the adoption and use of renewable energy.
- Strategic Development Goals: The implementation of this project will advance New York's goal of achieving 10 GW of solar capacity by 2030, further solidifying the state's leadership in community solar capacity in the U.S. and supporting the clean energy transition.
See More
PowerBank Secures NYSERDA Incentives for Solar Project
- Incentive Approval: PowerBank's 2.6 MW Elmira Solar Project has been approved for up to $309,720 in incentives, significantly reducing initial investment costs and enhancing the project's economic viability.
- Additional Funding Potential: The project will also enroll in the Inclusive Community Solar Adder (ICSA) stream of the NY-Sun program, potentially securing an additional $545,107, further strengthening its financial stability and attractiveness.
- Community Solar Benefits: The project is expected to power approximately 325 homes annually, allowing residents to earn credits on their electric bills, thereby reducing their cost per kWh and promoting sustainable community development.
- Strategic Development Goals: The project's implementation will support New York's goal of achieving 10 GW of solar capacity by 2030, reinforcing the state's leadership in community solar capacity in the U.S. while driving local economic and job growth.
See More
PowerBank Appoints New President to Drive Growth
- Leadership Change: PowerBank Corporation has appointed Andrew van Doorn as the new President while retaining his role as COO, leveraging his 28 years of industry experience and successful completion of over 200 MW of solar projects to accelerate the company's strategic growth in North America.
- Rich Project Experience: Van Doorn's extensive background in solar includes developing 32 MW of community solar projects in Minnesota and overseeing 140 MW of rooftop solar installations in Ontario, which is expected to enhance PowerBank's competitiveness in the renewable energy market.
- Strategic Expansion Plans: Under Van Doorn's leadership, PowerBank will continue to advance its development pipeline of over 1 GW of renewable energy projects, particularly in emerging markets such as space-based infrastructure and advanced data centers, which are anticipated to provide sustained growth opportunities for the company.
- Financing Plan Update: PowerBank also announced a new equity distribution agreement with H.C. Wainwright & Co. and others to sell up to $50 million of common shares through the market, aimed at supporting the company's business objectives and general corporate purposes.
See More
PowerBank Corporation Reports Significant Growth in 2025 Performance
- Significant Revenue Growth: PowerBank's Independent Power Producer (IPP) revenues surged by 1,508% in fiscal year 2025, reaching $9.3 million compared to $0.6 million in 2024, demonstrating the company's successful transition towards sustainable long-term revenue generation through asset ownership and operation.
- Project Development Expansion: The company executed equipment procurement agreements for 15 distributed solar and energy storage projects in New York State, totaling approximately 67 MW DC and 11 MWh of battery storage, expected to provide clean energy for 7,500 homes, further solidifying its market position in the region.
- Market Leadership: PowerBank holds a significant market share in Nova Scotia's Community Solar Program, aiming to add 100 MW of solar generation to the grid by 2030, supporting the province's commitment to 80% renewable energy, showcasing its strong execution capabilities across North America.
- Space Computing Infrastructure Collaboration: The partnership with Smartlink AI positions PowerBank at the intersection of renewable energy, artificial intelligence, and space infrastructure, marking a strategic move as the global satellite market is projected to reach $615 billion by 2032.
See More
PowerBank Reports 1H 2025 Financial Results
- Financial Performance: PowerBank's 1H 2025 GAAP EPS stands at -$0.18, with revenue reaching $22.3 million, indicating ongoing profitability challenges that may affect investor confidence.
- Cash Flow Improvement: Operating cash flow shifted from an outflow of $1.1 million in the same period of FY2025 to an inflow of $5.0 million, demonstrating significant progress in cash management that supports future operations and investments.
- Increase in Development Fees: Development fees rose from $2.2 million to $3.4 million, reflecting increased investment in new projects, which may pressure short-term profits but is expected to facilitate long-term business expansion.
- Growth in EPC Services and IPP Production: EPC services revenue increased from $12.3 million to $13.8 million, while IPP production revenue grew from $4.6 million to $5.1 million, indicating growth potential in engineering and production sectors that could lay the groundwork for future revenue increases.
See More
PowerBank Reports Strong Q2 Financial Results with Strategic Milestones
- Significant Revenue Growth: PowerBank reported revenues of CAD 22.3 million for the six months ended December 31, 2025, marking a 16.5% increase year-over-year, demonstrating the company's strong market demand and execution capabilities in the renewable energy sector.
- Improved Gross Margin: The company achieved a gross margin of 36%, reflecting ongoing improvements in cost control and operational efficiency, which further enhances its financial stability and profitability.
- Successful Strategic Collaboration: The partnership with Orbit AI has successfully launched, highlighting PowerBank's innovative capabilities in solar infrastructure, which is expected to drive future technological advancements and market expansion.
- Robust Project Pipeline: The company currently has over 1 GW in its development pipeline and secured a USD 41 million transaction with Solar Advocate Development, ensuring future revenue streams and competitive positioning in the market.
See More
