Stocks of Sunworks Inc. (NASDAQ:SUNW) traded higher last session on Wall Street, up 2.34% to $2.19.
According to the data, Sunworks Inc. (NASDAQ:SUNW) has 3 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $6.00 and a low of $2.00, we find $5.00. Given the previous closing price of $2.14, this indicates a potential upside of 133.64 percent. SUNW stock price is now 3.88% away from the 50-day moving average and -5.18% away from the 200-day moving average. The market capitalization of the company currently stands at $75.29M.
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A total of 1 analysts have issued a hold rating and 2 have given it a buy rating. Brokers who have rated the stock have averaged $4.33 as their price target over the next twelve months.
With the price target of $5.50, Colliers Securities recently initiated with Buy rating for Sunworks Inc. (NASDAQ: SUNW)., while the ROTH Capital previously rated the stock as ‘Neutral’ on April 02, 2020.
In other news, Bonfigt Jason Lee, Chief Financial Officer bought 1,000 shares of the company’s stock on Jun 14. The stock was bought for $1,810 at an average price of $1.81. Upon completion of the transaction, the Chief Financial Officer now directly owns 141,358 shares in the company, valued at $0.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13, Chief Executive Officer Morris Gaylon bought 10,000 shares of the business’s stock. A total of $19,000 was incurred on buying the stock at an average price of $1.90. This leaves the insider owning 230,000 shares of the company worth $0.5 million. Insiders disposed of 29,740 shares of company stock worth roughly $65130.6 over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SUNW stock. A new stake in Sunworks Inc. shares was purchased by EAM INVESTORS, LLC during the first quarter worth $697,000. OCCUDO QUANTITATIVE STRATEGIES LP invested $597,000 in shares of SUNW during the first quarter. In the first quarter, SCHONFELD STRATEGIC ADVISORS LLC acquired a new stake in Sunworks Inc. valued at approximately $442,000. ALPHA PARADIGM PARTNERS, LLC acquired a new stake in SUNW for approximately $361,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in SUNW valued at around $168,000 in the second quarter. In total, there are 51 active investors with 16.20% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $2.1000 for Sunworks Inc. (NASDAQ: SUNW). During the past 12 months, Sunworks Inc. has had a low of $1.23 and a high of $5.11. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 1.60, and a quick ratio of 1.10. The fifty day moving average price for SUNW is $2.1078 and a two-hundred day moving average price translates $2.3067 for the stock.
The latest earnings results from Sunworks Inc. (NASDAQ: SUNW) was released for Jun, 2022. According to the Solar Company, earnings per share came in at -$0.23, missing analysts’ expectations of -$0.21 by -0.02. This compares to -$0.24 EPS in the same period last year. The net profit margin was -24.80% and return on equity was -48.60% for SUNW. The company reported revenue of $40.71 million for the quarter, compared to $31.22 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.41 percent. For the current quarter, analysts expect SUNW to generate $37.35M in revenue.
Sunworks Inc.(SUNW) Company Profile
Sunworks, Inc., through its subsidiaries, provides photovoltaic and battery based power and storage systems for the agricultural, commercial, industrial, public works, and residential markets in the United States. It also designs, finances, integrates, installs, and manages systems ranging in size from 2 kilowatt for residential projects to multi megawatt systems for larger commercial and public works projects. The company was formerly known as Solar3D, Inc. and changed its name to Sunworks, Inc. in March 2016. Sunworks, Inc. was incorporated in 2002 and is headquartered in Provo, Utah.
