Sunworks, Inc. (NASDAQ:SUNW) Expected to Post Q1 2023 Earnings of ($0.24) Per Share

Sunworks, Inc. (NASDAQ:SUNW – Get Rating) – Northland Capmk issued their Q1 2023 EPS estimates for Sunworks in a research note issued on Monday, March 13th. Northland Capmk analyst D. Schafer forecasts that the semiconductor company will post earnings per share of ($0.24) for the quarter. Northland Capmk also issued estimates for Sunworks’ Q2 2023 earnings at ($0.13) EPS, Q3 2023 earnings at ($0.06) EPS, Q4 2023 earnings at ($0.05) EPS, FY2023 earnings at ($0.48) EPS and FY2024 earnings at ($0.06) EPS.

Several other research analysts have also commented on the stock. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and set a $5.00 price objective on shares of Sunworks in a research note on Monday. Northland Securities dropped their price objective on shares of Sunworks from $6.00 to $4.00 in a research note on Monday.

Sunworks Trading Down 4.3 %

SUNW stock opened at $1.56 on Wednesday. The firm has a fifty day moving average price of $2.00 and a 200 day moving average price of $2.33. Sunworks has a fifty-two week low of $1.23 and a fifty-two week high of $4.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 1.63. The firm has a market cap of $54.90 million, a PE ratio of -1.79 and a beta of 1.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SUNW. Prudential Financial Inc. purchased a new stake in shares of Sunworks during the second quarter valued at $28,000. First Republic Investment Management Inc. purchased a new stake in shares of Sunworks during the first quarter valued at $29,000. Summit Financial LLC purchased a new stake in shares of Sunworks during the third quarter valued at $36,000. XTX Topco Ltd purchased a new stake in shares of Sunworks during the first quarter valued at $40,000. Finally, Worth Venture Partners LLC purchased a new stake in shares of Sunworks during the third quarter valued at $42,000. 16.18% of the stock is owned by hedge funds and other institutional investors.

About Sunworks

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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.