Zacks Investment Research upgraded shares of Sunworks, Inc. (NASDAQ:SUNW) from a sell rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Sunworks, Inc. provides solar power solutions. The company focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Sunworks, Inc., formerly known as Solar3D, Inc., is based in Roseville, United States. “

Other research analysts have also recently issued reports about the company. Cowen and Company lowered their price objective on Sunworks from $4.00 to $3.00 and set an outperform rating for the company in a research report on Thursday, March 30th. TheStreet cut Sunworks from a c- rating to a d rating in a research report on Thursday, March 16th. Finally, Chardan Capital cut Sunworks from a buy rating to a neutral rating in a research report on Monday, March 13th.

Shares of Sunworks (SUNW) opened at 1.59 on Wednesday. The stock’s market capitalization is $35.68 million. The firm has a 50-day moving average price of $1.53 and a 200-day moving average price of $1.78. Sunworks has a 1-year low of $1.28 and a 1-year high of $3.36.

Sunworks (NASDAQ:SUNW) last released its quarterly earnings data on Thursday, May 11th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The business had revenue of $14.35 million for the quarter. Sunworks had a negative return on equity of 52.21% and a negative net margin of 14.65%. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, equities research analysts forecast that Sunworks will post ($0.03) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Sunworks by 1.3% in the first quarter. Vanguard Group Inc. now owns 716,524 shares of the semiconductor company’s stock valued at $1,089,000 after buying an additional 9,500 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Sunworks during the fourth quarter valued at about $125,000. Finally, Credit Agricole S A acquired a new position in Sunworks during the fourth quarter valued at about $793,000. 5.48% of the stock is owned by institutional investors and hedge funds.

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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