Sunworks, Inc. (NASDAQ:SUNW) has been given a consensus rating of “Hold” by the six research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $2.67.
A number of research firms have commented on SUNW. Zacks Investment Research cut shares of Sunworks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Chardan Capital raised shares of Sunworks from a “neutral” rating to a “buy” rating and set a $2.50 price objective for the company in a report on Monday, October 2nd. Cowen and Company set a $3.00 price objective on shares of Sunworks and gave the company a “buy” rating in a report on Friday, August 11th. ValuEngine raised shares of Sunworks from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Finally, Roth Capital initiated coverage on shares of Sunworks in a report on Tuesday, June 27th. They set a “neutral” rating and a $2.50 price objective for the company.
Sunworks (NASDAQ:SUNW) last released its earnings results on Thursday, August 10th. The semiconductor company reported $0.04 EPS for the quarter. Sunworks had a negative net margin of 15.37% and a negative return on equity of 54.69%. The company had revenue of $25.01 million for the quarter, compared to analysts’ expectations of $25.20 million.
In other Sunworks news, insider Abraham Richard Emard sold 25,394 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $1.86, for a total transaction of $47,232.84. Following the completion of the sale, the insider now directly owns 632,305 shares of the company’s stock, valued at approximately $1,176,087.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 142,998 shares of company stock valued at $280,479. Insiders own 5.55% of the company’s stock.
An institutional investor recently raised its position in Sunworks stock. Sei Investments Co. lifted its holdings in Sunworks, Inc. (NASDAQ:SUNW) by 20.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,234 shares of the semiconductor company’s stock after purchasing an additional 10,408 shares during the quarter. Sei Investments Co. owned 0.27% of Sunworks worth $107,000 at the end of the most recent quarter. Institutional investors own 6.16% of the company’s stock.
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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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