Commonwealth Equity Services LLC Purchases Shares of 21,280 Sunworks, Inc. (NASDAQ:SUNW)

Commonwealth Equity Services LLC purchased a new stake in Sunworks, Inc. (NASDAQ:SUNW) in the first quarter, HoldingsChannel reports. The institutional investor purchased 21,280 shares of the semiconductor company’s stock, valued at approximately $312,000.

A number of other hedge funds have also recently made changes to their positions in SUNW. Bank of New York Mellon Corp acquired a new stake in Sunworks in the fourth quarter valued at $170,000. Renaissance Technologies LLC bought a new position in shares of Sunworks in the fourth quarter valued at about $591,000. Finally, Northern Trust Corp raised its position in shares of Sunworks by 72.2% in the fourth quarter. Northern Trust Corp now owns 33,488 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 14,045 shares during the period. Hedge funds and other institutional investors own 29.81% of the company’s stock.

Several equities analysts have recently weighed in on SUNW shares. Zacks Investment Research raised shares of Sunworks from a “sell” rating to a “hold” rating in a research report on Thursday. Roth Capital dropped their price objective on shares of Sunworks from $10.75 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, May 17th.

Shares of SUNW opened at $9.86 on Friday. The company has a 50-day moving average of $10.34. Sunworks, Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $29.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.41 and a current ratio of 5.50.

Sunworks (NASDAQ:SUNW) last released its quarterly earnings results on Thursday, May 13th. The semiconductor company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.09). Sunworks had a negative return on equity of 44.58% and a negative net margin of 44.15%. The business had revenue of $6.17 million for the quarter, compared to the consensus estimate of $8.30 million. Equities research analysts anticipate that Sunworks, Inc. will post -0.2 EPS for the current fiscal year.

About Sunworks

Sunworks, Inc, through its subsidiaries, provides photovoltaic based power systems for the agricultural, commercial, industrial, public works, and residential markets in California, Massachusetts, Nevada, Oregon, New Jersey, and Hawaii. The company also designs, finances, integrates, installs, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger projects.

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Institutional Ownership by Quarter for Sunworks (NASDAQ:SUNW)

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