Sunworks (NASDAQ:SUNW) Share Price Passes Below Two Hundred Day Moving Average of $2.47

Sunworks, Inc. (NASDAQ:SUNW – Get Rating)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.47 and traded as low as $2.12. Sunworks shares last traded at $2.14, with a volume of 779,767 shares.

Analyst Ratings Changes

Separately, EF Hutton Acquisition Co. I started coverage on Sunworks in a report on Monday, December 12th. They issued a “buy” rating and a $5.00 target price on the stock.

Sunworks Stock Performance

The company has a 50-day moving average price of $2.11 and a two-hundred day moving average price of $2.47. The stock has a market capitalization of $75.30 million, a P/E ratio of -1.88 and a beta of 1.82. The company has a quick ratio of 1.06, a current ratio of 1.63 and a debt-to-equity ratio of 0.01.

Sunworks (NASDAQ:SUNW – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The semiconductor company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Sunworks had a negative return on equity of 48.58% and a negative net margin of 24.77%. The company had revenue of $40.71 million during the quarter, compared to the consensus estimate of $37.35 million. Equities analysts expect that Sunworks, Inc. will post -0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Prudential Financial Inc. bought a new position in shares of Sunworks during the 2nd quarter valued at $28,000. First Republic Investment Management Inc. bought a new position in shares of Sunworks during the first quarter valued at about $29,000. Summit Financial LLC purchased a new position in shares of Sunworks in the third quarter worth about $36,000. XTX Topco Ltd bought a new stake in shares of Sunworks in the 1st quarter valued at about $40,000. Finally, Worth Venture Partners LLC purchased a new stake in Sunworks during the 3rd quarter valued at about $42,000. 16.18% of the stock is owned by hedge funds and other institutional investors.

Sunworks Company Profile

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Sunworks, Inc engages in the provision of photovoltaic and battery based power and storage systems for the residential and commercial markets. It operates through the Solcius and Sunworks business segments. The Solcius segment focuses on residential projects. The Sunworks segment deals with commercial projects including commercial, agricultural, industrial, and public works projects.