Sunworks Inc (SUNW) Stock Price Down 2.6%
Sunworks Inc (NASDAQ:SUNW) shares were down 2.6% during mid-day trading on Friday . The stock traded as low as $2.91 and last traded at $2.94, with a volume of 148,185 shares. The stock had previously closed at $3.02.
Several brokerages have recently issued reports on SUNW. Chardan Capital began coverage on shares of Sunworks in a research report on Thursday, August 4th. They set a “buy” rating and a $5.00 price target on the stock. Zacks Investment Research lowered shares of Sunworks from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th. Finally, TheStreet upgraded shares of Sunworks from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Sunworks currently has a consensus rating of “Buy” and an average target price of $4.58.
The stock’s 50-day moving average is $2.73 and its 200 day moving average is $2.61. The company has a market capitalization of $61.52 million and a price-to-earnings ratio of 25.88.
Sunworks (NASDAQ:SUNW) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $31.50 million for the quarter, compared to analysts’ expectations of $11 million. On average, equities analysts expect that Sunworks Inc will post $0.16 earnings per share for the current year.
In other news, insider Abraham Richard Emard sold 50,000 shares of Sunworks stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $3.11, for a total transaction of $155,500.00. Following the sale, the insider now owns 746,442 shares in the company, valued at $2,321,434.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
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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