Zacks: Sunworks Inc (NASDAQ:SUNW) Given $5.50 Average Price Target by Analysts
Sunworks Inc (NASDAQ:SUNW) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Analysts have set a twelve-month consensus price objective of $5.50 for the company and are predicting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Sunworks an industry rank of 171 out of 265 based on the ratings given to its competitors.
Several research analysts have recently commented on SUNW shares. Chardan Capital started coverage on Sunworks in a report on Thursday, August 4th. They set a “buy” rating and a $5.00 price objective for the company. Zacks Investment Research raised Sunworks from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research note on Thursday, August 25th. Finally, TheStreet raised Sunworks from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd.
Shares of Sunworks (NASDAQ:SUNW) opened at 2.56 on Thursday. The company has a market cap of $53.38 million, a price-to-earnings ratio of 22.46 and a beta of 2.14. Sunworks has a 1-year low of $1.84 and a 1-year high of $4.07. The stock has a 50 day moving average of $2.90 and a 200 day moving average of $2.66.
Sunworks (NASDAQ:SUNW) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The firm earned $31.50 million during the quarter, compared to the consensus estimate of $11 million. Analysts predict that Sunworks will post $0.06 EPS for the current year.
In other Sunworks news, insider Abraham Richard Emard sold 15,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $3.27, for a total value of $49,704.00. Following the completion of the sale, the insider now owns 787,442 shares of the company’s stock, valued at $2,574,935.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
An institutional investor recently raised its position in Sunworks stock. BlackRock Fund Advisors increased its position in shares of Sunworks Inc (NASDAQ:SUNW) by 24.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,176 shares of the company’s stock after buying an additional 11,328 shares during the period. BlackRock Fund Advisors owned approximately 0.29% of Sunworks worth $133,000 at the end of the most recent reporting period.
Sunworks Company Profile
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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