Zacks Investment Research Lowers Sunworks (NASDAQ:SUNW) to Sell

Sunworks (NASDAQ:SUNW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Sunworks, Inc. provides solar power solutions. The company focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Sunworks, Inc., formerly known as Solar3D, Inc., is based in Roseville, United States. “

Separately, ValuEngine lowered shares of Sunworks from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Shares of SUNW traded down $0.01 during mid-day trading on Tuesday, hitting $0.41. 1,006 shares of the company’s stock were exchanged, compared to its average volume of 928,922. The firm has a fifty day moving average of $0.52 and a two-hundred day moving average of $0.66. Sunworks has a twelve month low of $0.25 and a twelve month high of $1.97. The stock has a market cap of $12.84 million, a price-to-earnings ratio of -2.93 and a beta of 2.83. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 0.63.

Sunworks (NASDAQ:SUNW) last announced its quarterly earnings results on Friday, August 2nd. The semiconductor company reported $0.00 EPS for the quarter. Sunworks had a negative net margin of 10.45% and a negative return on equity of 57.74%. The company had revenue of $18.66 million for the quarter, compared to analyst estimates of $19.00 million. On average, equities analysts predict that Sunworks will post -0.17 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Sunworks by 124.4% in the 2nd quarter. BlackRock Inc. now owns 111,529 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 61,826 shares during the last quarter. Vanguard Group Inc. grew its stake in Sunworks by 392.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,143,273 shares of the semiconductor company’s stock valued at $623,000 after buying an additional 910,982 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in Sunworks by 113.3% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,066,669 shares of the semiconductor company’s stock valued at $2,526,000 after buying an additional 566,575 shares during the last quarter. Institutional investors own 6.91% of the company’s stock.

About Sunworks

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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