Sunworks (NASDAQ:SUNW) Downgraded by ValuEngine

ValuEngine downgraded shares of Sunworks (NASDAQ:SUNW) from a buy rating to a hold rating in a report released on Wednesday morning, ValuEngine reports.

A number of other brokerages have also recently commented on SUNW. Zacks Investment Research cut shares of Sunworks from a hold rating to a sell rating in a research note on Wednesday. Chardan Capital reissued a neutral rating on shares of Sunworks in a research note on Thursday, August 22nd.

Shares of NASDAQ:SUNW traded down $0.11 on Wednesday, reaching $2.63. The company’s stock had a trading volume of 21,413 shares, compared to its average volume of 92,407. Sunworks has a 52-week low of $1.74 and a 52-week high of $13.79. The company has a market cap of $11.52 million, a P/E ratio of -2.68 and a beta of 2.92. The company has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $1.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.86 and a current ratio of 0.98.

Sunworks (NASDAQ:SUNW) last issued its quarterly earnings data on Friday, August 2nd. The semiconductor company reported ($0.02) EPS for the quarter. Sunworks had a negative return on equity of 57.74% and a negative net margin of 10.45%. The business had revenue of $18.66 million during the quarter, compared to analysts’ expectations of $19.00 million. On average, equities research analysts forecast that Sunworks will post -1.19 EPS for the current fiscal year.

Several large investors have recently modified their holdings of SUNW. BlackRock Inc. grew its stake in shares of Sunworks by 124.4% in the 2nd quarter. BlackRock Inc. now owns 111,529 shares of the semiconductor company’s stock worth $61,000 after buying an additional 61,826 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sunworks by 392.2% during the 2nd 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. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of Sunworks by 113.3% during the 2nd 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. 81.91% of the stock is owned by institutional investors and hedge funds.

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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