Sunworks (NASDAQ:SUNW) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Sunworks (NASDAQ:SUNW) from a hold rating to a sell rating in a research report released on Tuesday morning, 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 downgraded shares of Sunworks from a buy rating to a hold rating in a research note on Thursday, August 8th.



Shares of SUNW opened at $0.42 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.98 and a quick ratio of 0.86. The company’s 50 day simple moving average is $0.52 and its 200 day simple moving average is $0.66. Sunworks has a 1 year low of $0.25 and a 1 year high of $1.97.

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

Large investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Sunworks by 124.4% during the second quarter. BlackRock Inc. now owns 111,529 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 61,826 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in Sunworks by 113.3% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,066,669 shares of the semiconductor company’s stock worth $2,526,000 after purchasing an additional 566,575 shares during the period. Finally, Vanguard Group Inc. raised its stake in Sunworks by 392.2% during the second quarter. Vanguard Group Inc. now owns 1,143,273 shares of the semiconductor company’s stock worth $623,000 after purchasing an additional 910,982 shares during the period. 5.15% of the stock is currently owned by institutional investors.

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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