Zacks Investment Research cut shares of Sunworks, Inc. (NASDAQ:SUNW) from a hold rating to a sell rating in a report issued on Tuesday morning.
According to Zacks, “Sunworks, Inc. provides solar power solutions. The company focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Sunworks, Inc., formerly known as Solar3D, Inc., is based in Roseville, United States. “
Other equities analysts have also recently issued reports about the company. Chardan Capital raised Sunworks from a neutral rating to a buy rating and set a $2.50 target price for the company in a report on Monday, October 2nd. Cowen and Company set a $3.00 target price on Sunworks and gave the stock a buy rating in a report on Friday, August 11th. Roth Capital started coverage on Sunworks in a report on Tuesday, June 27th. They issued a neutral rating and a $2.50 target price for the company. Finally, ValuEngine raised Sunworks from a strong sell rating to a sell rating in a report on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Sunworks has a consensus rating of Hold and an average price target of $2.67.
Shares of Sunworks (NASDAQ SUNW) traded down 1.3916% during midday trading on Tuesday, hitting $1.4101. The stock had a trading volume of 40,166 shares. Sunworks has a 12-month low of $1.28 and a 12-month high of $3.25. The firm has a 50-day moving average of $1.49 and a 200 day moving average of $1.60. The firm’s market cap is $31.66 million.
Sunworks (NASDAQ:SUNW) last issued its earnings results on Thursday, August 10th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter. Sunworks had a negative return on equity of 54.69% and a negative net margin of 15.37%. The business had revenue of $25.01 million during the quarter, compared to analysts’ expectations of $25.20 million. On average, analysts expect that Sunworks will post ($0.03) earnings per share for the current year.
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In other news, insider Abraham Richard Emard sold 25,394 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $1.86, for a total value of $47,232.84. Following the completion of the transaction, the insider now directly owns 632,305 shares of the company’s stock, valued at approximately $1,176,087.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 142,998 shares of company stock valued at $280,479. 5.55% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Sunworks stock. Sei Investments Co. boosted its holdings in shares of Sunworks, Inc. (NASDAQ:SUNW) by 20.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,234 shares of the semiconductor company’s stock after purchasing an additional 10,408 shares during the period. Sei Investments Co. owned 0.27% of Sunworks worth $107,000 as of its most recent SEC filing. 6.16% of the stock is owned by hedge funds and other institutional investors.
Sunworks, Inc, formerly Solar3D, Inc, provides photo voltaic (PV) based power systems for the residential, commercial and agricultural markets in California and Nevada. The Company, through its operating subsidiaries, designs, arranges financing, integrates, installs and manages systems ranging in size from 2 kilowatt (KW) for residential loads to multi megawatts (MW) systems for larger commercial projects.
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