Sunrise New Energy (EPOW) stock soared on Tuesday after the graphite anode material maker announced a new U.S. patent related to its creation of lithium-ion batteries. This new patent, titled “Preparation Method of an Anode Material for Lithium-Ion Batteries,” covers a process that improves the initial Coulombic efficiency and power performance of graphite composites.
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Sunrise New Energy noted that this new patent will result in the creation of next-generation high-energy and high-power lithium-ion batteries. The company also said that with this new patent comes the ability for it to enhance its collaborations with North American partners and build stronger technology barriers and competitive advantages in the region.
Haiping Hu, founder and CEO of Sunrise New Energy, said, “The granting of this U.S. patent reaffirms our commitment to advancing core technologies in anode materials, further supporting our strategic vision of ‘leading in the United States, expanding globally.’ We will continue to increase our R&D investments and accelerate the industrial application of our patented innovations.”
Sunrise New Energy Stock Movement Today
Sunrise New Energy stock was up 57.95% in pre-market trading on Tuesday, following a 26.91% fall yesterday. The shares were up 4.53% year-to-date, but have decreased 14.38% over the past 12 months. Today’s news came with heavy trading, as some 22 million shares changed hands, compared to a three-month daily average of about 226,000 units.
Is Sunrise New Energy Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of Sunrise New Energy is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates EPOW stock a Neutral (46) with a $1 price target. It cites “poor financial performance, characterized by high leverage and ongoing losses” as reasons for this stance.
