Sunworks (NASDAQ:SUNW) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research lowered shares of Sunworks (NASDAQ:SUNW) from a hold rating to a sell rating in a research report released 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 stock opened at $0.45 on Tuesday. The firm has a market capitalization of $12.87 million, a PE ratio of -3.21 and a beta of 2.83. The firm has a fifty day simple moving average of $0.51 and a two-hundred day simple moving average of $0.66. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 0.63. Sunworks has a 12 month low of $0.25 and a 12 month high of $1.97.

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

A number of hedge funds have recently made changes to their positions in SUNW. Amundi Pioneer Asset Management Inc. lifted 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 buying an additional 566,575 shares during the last quarter. Vanguard Group Inc. increased its position 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 acquiring an additional 910,982 shares during the period. Finally, BlackRock Inc. increased its position 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 acquiring an additional 61,826 shares during the period. Institutional investors and hedge funds 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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