Sunworks, Inc. (SUNW) Rating Lowered to Sell at Zacks Investment Research

Sunworks, Inc. (NASDAQ:SUNW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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 research analysts have also issued reports about the stock. Cowen and Company set a $3.00 target price on shares of Sunworks and gave the company a “buy” rating in a report on Friday, August 11th. Chardan Capital raised shares of 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. Finally, ValuEngine raised shares of 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 assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $2.67.

Sunworks (SUNW) opened at $1.10 on Friday. Sunworks has a fifty-two week low of $0.97 and a fifty-two week high of $2.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.23 and a current ratio of 1.40.

Sunworks (NASDAQ:SUNW) last posted its earnings results on Tuesday, November 14th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Sunworks had a negative net margin of 9.73% and a negative return on equity of 37.20%. The business had revenue of $18.80 million during the quarter, compared to analysts’ expectations of $26.10 million. During the same period last year, the business posted ($0.29) earnings per share. sell-side analysts forecast that Sunworks will post -0.02 EPS for the current fiscal year.

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A hedge fund recently raised its stake in Sunworks stock. Sei Investments Co. increased its stake in Sunworks, Inc. (NASDAQ:SUNW) by 20.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,234 shares of the semiconductor company’s stock after buying an additional 10,408 shares during the quarter. Sei Investments Co. owned about 0.27% of Sunworks worth $107,000 as of its most recent SEC filing. 6.16% of the stock is currently owned by hedge funds and other institutional investors.

About Sunworks

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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