Sunworks Inc (SUNW) Given Average Rating of “Strong Buy” by Brokerages
Sunworks Inc (NASDAQ:SUNW) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a 12-month consensus price objective of $5.00 for the company and are forecasting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Sunworks an industry rank of 185 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Sunworks from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 19th. Chardan Capital started coverage on Sunworks in a research report on Thursday, August 4th. They issued a “buy” rating and a $5.00 target price for the company.
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Sunworks (NASDAQ:SUNW) traded down 0.4469% during mid-day trading on Wednesday, hitting $2.2499. The stock had a trading volume of 32,289 shares. Sunworks has a 12-month low of $1.84 and a 12-month high of $3.85. The stock has a market cap of $46.92 million, a price-to-earnings ratio of 19.7360 and a beta of 2.14. The company has a 50-day moving average of $2.77 and a 200-day moving average of $2.64.
In other news, COO Abraham Richard Emard sold 24,000 shares of the stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $3.02, for a total transaction of $72,480.00. Following the completion of the sale, the chief operating officer now owns 680,105 shares in the company, valued at approximately $2,053,917.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Sunworks by 13.0% in the second quarter. Vanguard Group Inc. now owns 427,227 shares of the company’s stock worth $995,000 after buying an additional 49,269 shares during the last quarter. BlackRock Fund Advisors raised its stake in Sunworks by 24.7% in the second quarter. BlackRock Fund Advisors now owns 57,176 shares of the company’s stock worth $133,000 after buying an additional 11,328 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Sunworks by 13.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 55,296 shares of the company’s stock worth $142,000 after buying an additional 6,734 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Sunworks by 4.5% in the third quarter. Northern Trust Corp now owns 77,395 shares of the company’s stock worth $199,000 after buying an additional 3,335 shares during the last quarter.
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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