Sunworks Inc (SUNW) Sees Unusually-High Trading Volume
Sunworks Inc (NASDAQ:SUNW) shares saw an uptick in trading volume on Wednesday . 120,544 shares changed hands during trading, an increase of 10% from the previous session’s volume of 109,535 shares.The stock last traded at $2.60 and had previously closed at $2.57.
A number of brokerages have commented on SUNW. Chardan Capital began coverage on Sunworks in a research report on Thursday, August 4th. They set a “buy” rating and a $5.00 price objective for the company. Zacks Investment Research lowered Sunworks from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. Finally, TheStreet upgraded Sunworks from a “sell” rating to a “hold” rating in a research report on Friday, June 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Sunworks has an average rating of “Buy” and an average target price of $4.58.
The firm has a 50 day moving average price of $2.87 and a 200-day moving average price of $2.66. The stock has a market capitalization of $54.84 million, a P/E ratio of 23.07 and a beta of 2.14.
Sunworks (NASDAQ:SUNW) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by $0.02. The firm earned $31.50 million during the quarter, compared to the consensus estimate of $11 million. On average, analysts anticipate that Sunworks Inc will post $0.06 earnings per share for the current fiscal year.
In related news, insider Abraham Richard Emard sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Sunworks stock. Vanguard Group Inc. raised its stake in shares of Sunworks Inc (NASDAQ:SUNW) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,227 shares of the company’s stock after buying an additional 49,269 shares during the period. Vanguard Group Inc. owned approximately 2.16% of Sunworks worth $995,000 as of its most recent SEC filing.
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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