Sunworks (SUNW) Stock Price Down 12.3%

Sunworks Inc (NASDAQ:SUNW)’s share price was down 12.3% during mid-day trading on Tuesday . The stock traded as low as $0.69 and last traded at $0.71. Approximately 1,153,390 shares changed hands during trading, an increase of 73% from the average daily volume of 665,330 shares. The stock had previously closed at $0.81.

Several equities analysts recently issued reports on SUNW shares. ValuEngine upgraded shares of Sunworks from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research cut shares of Sunworks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 15th.

The company has a current ratio of 0.91, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The stock has a market cap of $20.28 million, a PE ratio of -5.00 and a beta of 3.27.

Sunworks (NASDAQ:SUNW) last announced its quarterly earnings results on Tuesday, May 14th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.14). Sunworks had a negative net margin of 12.80% and a negative return on equity of 61.84%. The company had revenue of $9.27 million for the quarter, compared to analysts’ expectations of $13.00 million. During the same quarter in the prior year, the firm earned ($0.07) EPS.

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About Sunworks (NASDAQ:SUNW)

Sunworks, Inc, through its subsidiaries, provides photo voltaic based power systems for the agricultural, commercial, industrial, and residential markets in California, Nevada, Oregon, and Washington, the United States. The company also designs, arranges, finances, integrates, installs, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger commercial projects.

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