Sunworks Inc (NASDAQ:SUNW)’s share price shot up 6.1% on Tuesday . The company traded as high as $1.27 and last traded at $1.21, 957,900 shares traded hands during mid-day trading. A decline of 6% from the average session volume of 1,016,035 shares. The stock had previously closed at $1.14.
SUNW has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Sunworks from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. ValuEngine upgraded shares of Sunworks from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd.
The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $1.21 and its two-hundred day moving average is $1.50. The stock has a market cap of $6.34 million, a price-to-earnings ratio of -1.23 and a beta of 2.71.
Sunworks (NASDAQ:SUNW) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.26) earnings per share for the quarter. Sunworks had a negative return on equity of 74.63% and a negative net margin of 11.81%. The company had revenue of $17.55 million for the quarter, compared to analyst estimates of $19.50 million. On average, analysts predict that Sunworks Inc will post -0.47 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Sunworks by 392.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,143,273 shares of the semiconductor company’s stock worth $623,000 after purchasing an additional 910,982 shares during the last quarter. BlackRock Inc. raised its position in shares of Sunworks by 124.4% during the 2nd quarter. BlackRock Inc. now owns 111,529 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 61,826 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in shares of Sunworks by 113.3% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,066,669 shares of the semiconductor company’s stock worth $2,526,000 after purchasing an additional 566,575 shares during the last quarter. Hedge funds and other institutional investors own 9.45% of the company’s stock.
About Sunworks (NASDAQ:SUNW)
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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