Sunworks, Inc. (SUNW) Issues Quarterly Earnings Results
Sunworks, Inc. (NASDAQ:SUNW) released its earnings results on Tuesday. The semiconductor company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.10), RTT News reports. Sunworks had a negative return on equity of 54.69% and a negative net margin of 15.37%. During the same period in the prior year, the company earned ($0.29) earnings per share.
Sunworks (SUNW) traded down $0.26 during trading on Wednesday, reaching $1.10. The company had a trading volume of 1,201,800 shares, compared to its average volume of 134,375. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.40 and a quick ratio of 1.23. Sunworks has a 12 month low of $0.98 and a 12 month high of $2.45.
Several equities research analysts have commented on SUNW shares. Cowen and Company set a $3.00 target price on Sunworks and gave the stock a “buy” rating in a report on Friday, August 11th. Chardan Capital raised Sunworks from a “neutral” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Monday, October 2nd. Zacks Investment Research raised Sunworks from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, ValuEngine raised Sunworks from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.67.
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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