Sunworks, Inc. (SUNW) Posts Quarterly Earnings Results
Sunworks, Inc. (NASDAQ:SUNW) released its quarterly earnings results on Thursday. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, MarketWatch Earnings reports. The business had revenue of $25.01 million during the quarter, compared to the consensus estimate of $25.20 million. Sunworks had a negative return on equity of 52.21% and a negative net margin of 14.65%.
Sunworks (NASDAQ:SUNW) traded down 0.57% on Friday, hitting $1.74. The stock had a trading volume of 128,458 shares. The stock has a 50-day moving average of $1.86 and a 200-day moving average of $1.72. The company’s market cap is $39.05 million. Sunworks has a one year low of $1.28 and a one year high of $3.25.
In related news, COO Abraham Richard Emard sold 34,500 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $1.79, for a total transaction of $61,755.00. Following the completion of the transaction, the chief operating officer now owns 684,046 shares of the company’s stock, valued at $1,224,442.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have purchased 34,625 shares of company stock valued at $52,089 and have sold 245,239 shares valued at $464,391. Company insiders own 5.55% of the company’s stock.
An institutional investor recently raised its position in Sunworks stock. Sei Investments Co. boosted its stake in shares of Sunworks, Inc. (NASDAQ:SUNW) by 20.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,234 shares of the semiconductor company’s stock after buying an additional 10,408 shares during the period. Sei Investments Co. owned 0.27% of Sunworks worth $107,000 as of its most recent SEC filing. 5.53% of the stock is currently owned by institutional investors.
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Several research analysts have recently issued reports on the company. Cowen and Company set a $3.00 price target on Sunworks and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Roth Capital assumed coverage on Sunworks in a research note on Tuesday, June 27th. They set a “neutral” rating and a $2.50 price target for the company. Finally, Zacks Investment Research raised Sunworks from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $2.92.
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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