Sunworks Inc (SUNW) Receives Consensus Rating of “Hold” from Brokerages

Sunworks Inc (NASDAQ:SUNW) has been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock, reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.67.

Separately, Zacks Investment Research lowered Sunworks from a “hold” rating to a “sell” rating in a research note on Friday, November 17th.

A hedge fund recently raised its stake in Sunworks stock. Boothbay Fund Management LLC boosted its holdings in Sunworks Inc (NASDAQ:SUNW) by 58.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 135,137 shares of the semiconductor company’s stock after buying an additional 49,983 shares during the period. Boothbay Fund Management LLC owned 0.60% of Sunworks worth $212,000 at the end of the most recent reporting period. 6.98% of the stock is currently owned by hedge funds and other institutional investors.

Sunworks (NASDAQ SUNW) traded up $0.01 on Friday, hitting $1.05. The company had a trading volume of 80,442 shares, compared to its average volume of 236,541. The company has a current ratio of 1.35, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $23.35, a price-to-earnings ratio of -2.84, a P/E/G ratio of 0.80 and a beta of 1.51. Sunworks has a fifty-two week low of $0.90 and a fifty-two week high of $2.20.

Sunworks (NASDAQ:SUNW) last issued its quarterly earnings results on Tuesday, November 14th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Sunworks had a negative return on equity of 37.92% and a negative net margin of 9.73%. The business had revenue of $18.80 million during the quarter, compared to analyst estimates of $26.10 million. During the same period in the previous year, the business posted ($0.29) earnings per share. research analysts forecast that Sunworks will post -0.18 earnings per share for the current fiscal year.

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About Sunworks

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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