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

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

Shares of NASDAQ SUNW opened at $0.45 on Tuesday. The business’s 50 day moving average is $0.51 and its two-hundred day moving average is $0.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.98 and a quick ratio of 0.86. Sunworks has a 1-year low of $0.25 and a 1-year high of $1.97. The stock has a market capitalization of $13.79 million, a P/E ratio of -3.21 and a beta of 2.83.

Sunworks (NASDAQ:SUNW) last issued its quarterly earnings data on Friday, August 2nd. The semiconductor company reported $0.00 earnings per share for the quarter. Sunworks had a negative return on equity of 57.74% and a negative net margin of 10.45%. The company had revenue of $18.66 million for the quarter, compared to analysts’ expectations of $19.00 million. As a group, equities research analysts anticipate that Sunworks will post -0.17 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased 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 acquiring an additional 910,982 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of 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 period. Finally, BlackRock Inc. boosted its position in shares of 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 period. 6.91% of the stock is currently owned by institutional investors.

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.

Further Reading: Oversold

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