Sunworks (NASDAQ:SUNW) Earns Outperform Rating from Analysts at Northland Securities

Investment analysts at Northland Securities assumed coverage on shares of Sunworks (NASDAQ:SUNWGet Rating) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the semiconductor company’s stock.

A number of other research firms have also recently commented on SUNW. Zacks Investment Research upgraded Sunworks from a “sell” rating to a “hold” rating in a research report on Thursday, January 20th. Colliers Securities initiated coverage on Sunworks in a research report on Tuesday, March 1st. They set a “buy” rating and a $5.50 target price on the stock.

NASDAQ:SUNW opened at $1.79 on Wednesday. Sunworks has a one year low of $1.65 and a one year high of $11.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.75 and a current ratio of 2.16. The firm has a market cap of $52.45 million, a price-to-earnings ratio of -1.85 and a beta of 1.70. The firm’s fifty day moving average is $2.44 and its two-hundred day moving average is $3.36.

Sunworks (NASDAQ:SUNWGet Rating) last posted its quarterly earnings results on Friday, March 11th. The semiconductor company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.26). Sunworks had a negative net margin of 26.32% and a negative return on equity of 35.41%. The business had revenue of $31.67 million during the quarter, compared to analysts’ expectations of $29.50 million. As a group, equities research analysts predict that Sunworks will post -0.62 earnings per share for the current fiscal year.

In related news, CEO Gaylon Morris purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were purchased at an average cost of $3.11 per share, with a total value of $31,100.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake in Sunworks by 692.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,100,646 shares of the semiconductor company’s stock valued at $3,379,000 after buying an additional 961,673 shares in the last quarter. Morgan Stanley lifted its stake in Sunworks by 1,147.2% in the 3rd quarter. Morgan Stanley now owns 500,147 shares of the semiconductor company’s stock worth $3,071,000 after purchasing an additional 460,047 shares in the last quarter. First Trust Advisors LP lifted its stake in Sunworks by 18.9% in the 4th quarter. First Trust Advisors LP now owns 248,637 shares of the semiconductor company’s stock worth $763,000 after purchasing an additional 39,453 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sunworks by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 236,762 shares of the semiconductor company’s stock worth $1,453,000 after purchasing an additional 12,541 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Sunworks by 313.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 129,008 shares of the semiconductor company’s stock worth $397,000 after purchasing an additional 97,834 shares in the last quarter. 19.27% of the stock is currently owned by hedge funds and other institutional investors.

Sunworks Company Profile (Get Rating)

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.

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