Zacks Investment Research cut shares of Sunworks (NASDAQ:SUNW) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.
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. “
Several other research analysts have also recently commented on SUNW. Chardan Capital reiterated a neutral rating on shares of Sunworks in a research note on Thursday, August 22nd. ValuEngine upgraded Sunworks from a hold rating to a buy rating in a research note on Saturday, August 31st.
NASDAQ:SUNW opened at $2.97 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 0.98. Sunworks has a one year low of $1.74 and a one year high of $13.79. The business’s 50-day simple moving average is $1.37 and its 200 day simple moving average is $0.88. The stock has a market cap of $12.83 million, a price-to-earnings ratio of -3.03 and a beta of 2.93.
Sunworks (NASDAQ:SUNW) last released its quarterly earnings results on Friday, August 2nd. The semiconductor company reported ($0.02) EPS for the quarter. Sunworks had a negative return on equity of 57.74% and a negative net margin of 10.45%. The business had revenue of $18.66 million during the quarter, compared to analyst estimates of $19.00 million. On average, equities research analysts predict that Sunworks will post -0.84 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Sunworks by 392.2% in the second quarter. Vanguard Group Inc. now owns 1,143,273 shares of the semiconductor company’s stock valued at $623,000 after buying an additional 910,982 shares during the last quarter. BlackRock Inc. increased its holdings in Sunworks by 124.4% in the second quarter. BlackRock Inc. now owns 111,529 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 61,826 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in Sunworks by 113.3% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,066,669 shares of the semiconductor company’s stock valued at $2,526,000 after buying an additional 566,575 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.
Sunworks Company Profile
Sunworks, Inc, through its subsidiaries, provides photo voltaic based power systems for the agricultural, commercial, industrial, and residential markets in California, Nevada, Oregon, and Washington, the United States. The company also designs, arranges, finances, integrates, installs, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger commercial projects.
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