Sunworks (NASDAQ:SUNW) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Sunworks (NASDAQ:SUNW) from a hold rating to a sell rating in a research note published on Wednesday, 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. “

SUNW has been the subject of a number of other reports. Chardan Capital reaffirmed a neutral rating on shares of Sunworks in a report on Thursday, August 22nd. ValuEngine raised shares of Sunworks from a hold rating to a buy rating in a report on Saturday, August 31st.

Shares of SUNW traded down $0.11 during mid-day trading on Wednesday, hitting $2.63. 21,413 shares of the company traded hands, compared to its average volume of 92,407. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 0.98. The stock has a 50-day moving average price of $2.01 and a two-hundred day moving average price of $1.04. Sunworks has a 1 year low of $1.74 and a 1 year high of $13.79. The stock has a market cap of $11.52 million, a price-to-earnings ratio of -2.68 and a beta of 2.92.

Sunworks (NASDAQ:SUNW) last released its quarterly earnings data on Friday, August 2nd. The semiconductor company reported ($0.02) earnings per share 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 analysts’ expectations of $19.00 million. On average, analysts forecast that Sunworks will post -1.19 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Sunworks by 124.4% during the second 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. Amundi Pioneer Asset Management Inc. increased its holdings 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 valued at $2,526,000 after buying an additional 566,575 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Sunworks by 392.2% during the second 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. 81.91% of the stock is owned by institutional investors and hedge funds.

Sunworks Company Profile

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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