Shares of Sunworks, Inc. (NASDAQ:SUNW) dropped 6.3% during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $0.98 and last traded at $1.36. Approximately 367,800 shares changed hands during trading, an increase of 184% from the average daily volume of 129,474 shares. The stock had previously closed at $1.28.

The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). Sunworks had a negative net margin of 9.73% and a negative return on equity of 37.20%. During the same period last year, the business posted ($0.29) earnings per share.

A number of research analysts have weighed in on the company. Cowen and Company set a $3.00 price target on Sunworks and gave the company a “buy” rating in a research note on Friday, August 11th. ValuEngine upgraded Sunworks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Zacks Investment Research downgraded Sunworks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Chardan Capital upgraded Sunworks from a “neutral” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.67.

An institutional investor recently raised its position in Sunworks stock. Boothbay Fund Management LLC raised its stake in Sunworks, Inc. (NASDAQ:SUNW) by 58.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,137 shares of the semiconductor company’s stock after purchasing an additional 49,983 shares during the quarter. Boothbay Fund Management LLC owned approximately 0.60% of Sunworks worth $212,000 at the end of the most recent reporting period. 6.16% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.40 and a quick ratio of 1.23.

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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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