Sunworks, Inc. (SUNW) Sees Unusually-High Trading Volume
Sunworks, Inc. (NASDAQ:SUNW) shares saw unusually-high trading volume on Monday . Approximately 467,901 shares changed hands during mid-day trading, an increase of 264% from the previous session’s volume of 128,414 shares.The stock last traded at $1.62 and had previously closed at $1.57.
Several research analysts have weighed in on the stock. Chardan Capital raised shares of Sunworks from a “neutral” rating to a “buy” rating and set a $2.50 target price for the company in a research note on Monday. Cowen and Company set a $3.00 price target on shares of Sunworks and gave the company a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research raised shares of Sunworks from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Roth Capital started coverage on shares of Sunworks in a research note on Tuesday, June 27th. They issued a “neutral” rating and a $2.50 price target on the stock. Finally, ValuEngine upgraded shares of Sunworks from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $2.67.
The company 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 $33.23 million.
Sunworks (NASDAQ:SUNW) last posted its quarterly earnings data on Thursday, August 10th. The semiconductor company reported $0.04 EPS for the quarter. The company had revenue of $25.01 million during the quarter, compared to the consensus estimate 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 predict that Sunworks, Inc. will post ($0.03) EPS for the current fiscal year.
In related news, insider Abraham Richard Emard sold 34,500 shares of the company’s 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 transaction, the insider now owns 532,567 shares of the company’s stock, valued at $1,107,739.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 245,239 shares of company stock valued at $464,391. 5.55% of the stock is owned by insiders.
A hedge fund recently raised its stake in Sunworks stock. Sei Investments Co. increased its stake in Sunworks, Inc. (NASDAQ:SUNW) by 20.5% in the second quarter, according to the company in 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 about 0.27% of Sunworks worth $107,000 as of its most recent filing with the SEC. 6.16% of the stock is currently owned by institutional investors.
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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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