Short Interest in Sunworks, Inc. (NASDAQ:SUNW) Grows By 19.7%

Sunworks, Inc. (NASDAQ:SUNWGet Rating) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 3,580,000 shares, a growth of 19.7% from the June 30th total of 2,990,000 shares. Based on an average daily trading volume, of 996,800 shares, the short-interest ratio is currently 3.6 days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SUNW shares. Roth Capital reaffirmed a “neutral” rating on shares of Sunworks in a research note on Thursday, May 19th. Northland Securities started coverage on shares of Sunworks in a research note on Wednesday, May 4th. They set an “outperform” rating on the stock.

Sunworks Price Performance

Shares of SUNW stock opened at $2.49 on Friday. The firm has a market cap of $81.99 million, a P/E ratio of -2.35 and a beta of 1.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.07 and a quick ratio of 1.58. Sunworks has a 1-year low of $1.23 and a 1-year high of $9.27. The firm has a fifty day moving average of $1.85 and a two-hundred day moving average of $2.10.

Sunworks (NASDAQ:SUNWGet Rating) last announced its quarterly earnings data on Monday, May 16th. The semiconductor company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). The company had revenue of $31.20 million for the quarter, compared to analyst estimates of $29.90 million. Sunworks had a negative return on equity of 40.54% and a negative net margin of 23.79%. During the same period in the prior year, the business earned ($0.19) earnings per share. As a group, research analysts anticipate that Sunworks will post -0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Sunworks by 9.8% in the 1st quarter. State Street Corp now owns 88,353 shares of the semiconductor company’s stock valued at $223,000 after buying an additional 7,863 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of Sunworks in the 1st quarter valued at about $29,000. Goldman Sachs Group Inc. boosted its holdings in shares of Sunworks by 9.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 141,496 shares of the semiconductor company’s stock valued at $356,000 after buying an additional 12,488 shares during the period. XTX Topco Ltd acquired a new position in shares of Sunworks in the 1st quarter valued at about $40,000. Finally, Verition Fund Management LLC acquired a new position in shares of Sunworks in the 1st quarter valued at about $54,000. 19.27% of the stock is owned by institutional investors and hedge funds.

About Sunworks

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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.

Further Reading

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