Sunworks, Inc. (SUNW) Upgraded by Chardan Capital to Buy
Chardan Capital upgraded shares of Sunworks, Inc. (NASDAQ:SUNW) from a neutral rating to a buy rating in a research report report published on Monday morning. The firm currently has $2.50 price objective on the semiconductor company’s stock.
Other research analysts have also recently issued research 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 research note on Friday, August 11th. Zacks Investment Research upgraded Sunworks from a sell rating to a hold rating in a research note on Wednesday, June 14th. Roth Capital initiated coverage on Sunworks in a research note on Tuesday, June 27th. They issued a neutral rating and a $2.50 price target for the company. Finally, ValuEngine raised Sunworks from a strong sell rating to a sell rating in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Sunworks has an average rating of Hold and a consensus price target of $2.67.
Shares of Sunworks (NASDAQ:SUNW) opened at 1.55 on Monday. Sunworks has a 12-month low of $1.28 and a 12-month high of $3.25. The firm has a 50 day moving average price of $1.52 and a 200 day moving average price of $1.60. The stock’s market cap is $34.81 million.
Sunworks (NASDAQ:SUNW) last announced its quarterly earnings data on Thursday, August 10th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $25.01 million during the quarter, compared to analysts’ expectations of $25.20 million. Sunworks had a negative net margin of 15.37% and a negative return on equity of 54.69%. On average, equities analysts expect that Sunworks will post ($0.03) EPS for the current year.
In other Sunworks news, insider Abraham Richard Emard sold 34,500 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $2.08, for a total transaction of $71,760.00. Following the completion of the sale, the insider now directly owns 532,567 shares of the company’s stock, valued at approximately $1,107,739.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 245,239 shares of company stock valued at $464,391 over the last 90 days. 5.55% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Sunworks stock. Sei Investments Co. lifted its stake in Sunworks, Inc. (NASDAQ:SUNW) by 20.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,234 shares of the semiconductor company’s stock after buying an additional 10,408 shares during the quarter. Sei Investments Co. owned approximately 0.27% of Sunworks worth $107,000 at the end of the most recent reporting period. Institutional investors own 6.16% of the company’s stock.
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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