Sunworks Inc (SUNW) Shares Down 2.6%
Sunworks Inc (NASDAQ:SUNW) dropped 2.6% during trading on Friday . The company traded as low as $2.91 and last traded at $2.94, with a volume of 148,185 shares changing hands. The stock had previously closed at $3.02.
SUNW has been the subject of a number of research analyst reports. Zacks Investment Research lowered Sunworks from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th. TheStreet upgraded Sunworks from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. Finally, Chardan Capital initiated coverage on Sunworks in a report on Thursday, August 4th. They issued a “buy” rating and a $5.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Sunworks presently has an average rating of “Buy” and a consensus price target of $4.58.
The firm has a market capitalization of $61.52 million and a P/E ratio of 25.88. The stock’s 50 day moving average price is $2.75 and its 200-day moving average price is $2.62.
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 Thomson Reuters’ consensus estimate of $0.05 by $0.02. The firm had revenue of $31.50 million for the quarter, compared to the consensus estimate of $11 million. Equities research analysts expect that Sunworks Inc will post $0.16 EPS for the current fiscal year.
In related news, insider Abraham Richard Emard sold 11,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $3.33, for a total value of $38,628.00. Following the completion of the sale, the insider now owns 775,842 shares of the company’s stock, valued at $2,583,553.86. The sale was disclosed in a document filed with the SEC, which is accessible through 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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