Sunworks, Inc. (NASDAQ:SUNW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Sunworks, Inc. provides solar power solutions. The company focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Sunworks, Inc., formerly known as Solar3D, Inc., is based in Roseville, United States. “

SUNW has been the subject of several other reports. Roth Capital began coverage on Sunworks in a research note on Tuesday, June 27th. They issued a “neutral” rating and a $2.50 price target for the company. Cowen and Company set a $3.00 price objective on Sunworks and gave the stock a “buy” rating in a research note on Tuesday, July 11th. ValuEngine upgraded Sunworks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Finally, Chardan Capital raised Sunworks from a “neutral” rating to a “buy” rating and set a $2.50 price objective for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $2.67.

Shares of Sunworks (SUNW) traded up 6.76% on Wednesday, hitting $1.58. The company’s stock had a trading volume of 401,125 shares. The stock’s 50-day moving average price is $1.52 and its 200-day moving average price is $1.60. The firm’s market cap is $35.48 million. Sunworks has a 52 week low of $1.28 and a 52 week high of $3.25.

Sunworks (NASDAQ:SUNW) last announced its earnings results on Thursday, August 10th. The semiconductor company reported $0.04 EPS for the quarter. Sunworks had a negative net margin of 15.37% and a negative return on equity of 54.69%. The company had revenue of $25.01 million for the quarter, compared to analysts’ expectations of $25.20 million. Equities analysts expect that Sunworks will post ($0.03) earnings per share for the current fiscal year.

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In other news, COO Abraham Richard Emard sold 34,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $1.79, for a total transaction of $61,755.00. Following the completion of the sale, the chief operating officer now owns 684,046 shares of the company’s stock, valued at approximately $1,224,442.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 245,239 shares of company stock valued at $464,391 over the last 90 days. Corporate insiders own 5.55% of the company’s stock.

A hedge fund recently raised its stake in Sunworks stock. Sei Investments Co. increased its holdings in shares of Sunworks, Inc. (NASDAQ:SUNW) by 20.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,234 shares of the semiconductor company’s stock after buying an additional 10,408 shares during the quarter. Sei Investments Co. owned 0.27% of Sunworks worth $107,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.16% of the company’s stock.

About Sunworks

Sunworks, Inc, formerly Solar3D, Inc, provides photo voltaic (PV) based power systems for the residential, commercial and agricultural markets in California and Nevada. The Company, through its operating subsidiaries, designs, arranges financing, integrates, installs and manages systems ranging in size from 2 kilowatt (KW) for residential loads to multi megawatts (MW) systems for larger commercial projects.

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