Sunworks, Inc. (SUNW) Given Average Rating of “Hold” by Brokerages
Shares of Sunworks, Inc. (NASDAQ:SUNW) have received an average recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $2.67.
A number of research analysts have issued reports on SUNW shares. Cowen and Company set a $3.00 price target on Sunworks and gave the stock a “buy” rating in a research report on Friday, August 11th. Roth Capital started coverage on Sunworks in a research report on Tuesday, June 27th. They set a “neutral” rating and a $2.50 price target for the company. Zacks Investment Research lowered Sunworks from a “hold” rating to a “sell” rating in a research report on Wednesday. Chardan Capital upgraded Sunworks from a “neutral” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Monday, October 2nd. Finally, ValuEngine upgraded Sunworks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th.
In other Sunworks news, COO Abraham Richard Emard sold 34,500 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $1.79, for a total transaction of $61,755.00. Following the completion of the transaction, the chief operating officer now owns 684,046 shares in the company, valued at approximately $1,224,442.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 245,239 shares of company stock valued at $464,391 in the last quarter. 5.55% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Sunworks stock. Sei Investments Co. lifted its stake in shares of Sunworks, Inc. (NASDAQ:SUNW) by 20.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,234 shares of the semiconductor company’s stock after purchasing an additional 10,408 shares during the period. Sei Investments Co. owned approximately 0.27% of Sunworks worth $107,000 at the end of the most recent quarter. Institutional investors and hedge funds own 6.16% of the company’s stock.
Shares of Sunworks (NASDAQ:SUNW) traded down 0.64% during midday trading on Friday, hitting $1.56. The company had a trading volume of 96,442 shares. The stock’s 50-day moving average price is $1.51 and its 200-day moving average price is $1.60. The company’s market cap is $35.03 million. Sunworks has a 12 month low of $1.28 and a 12 month high of $3.25.
Sunworks (NASDAQ:SUNW) last released its quarterly earnings data 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 analyst estimates of $25.20 million. On average, equities research analysts forecast that Sunworks will post ($0.03) EPS for the current year.
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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