Sunworks (NASDAQ:SUNW) Shares Cross Above Fifty Day Moving Average of $1.14

Sunworks, Inc. (NASDAQ:SUNW – Get Rating) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.14 and traded as high as $1.30. Sunworks shares last traded at $1.27, with a volume of 1,583,989 shares changing hands.

Analyst Ratings Changes

Several equities analysts have weighed in on SUNW shares. Northland Securities reduced their price objective on Sunworks from $6.00 to $4.00 in a report on Monday, March 13th. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and issued a $5.00 price target on shares of Sunworks in a report on Monday, March 13th.

Sunworks Stock Up 15.5 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.46 and a quick ratio of 0.95. The stock has a 50-day moving average of $1.14 and a two-hundred day moving average of $1.74.

Sunworks (NASDAQ:SUNW – Get Rating) last posted its earnings results on Friday, March 10th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Sunworks had a negative net margin of 17.42% and a negative return on equity of 40.79%. The business had revenue of $53.63 million for the quarter, compared to analysts’ expectations of $40.30 million. On average, equities analysts forecast that Sunworks, Inc. will post -0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Sunworks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. bought a new position in shares of Sunworks during the first quarter valued at $29,000. Summit Financial LLC bought a new position in shares of Sunworks during the third quarter valued at $36,000. Worth Venture Partners LLC bought a new position in shares of Sunworks during the third quarter valued at $42,000. XTX Topco Ltd bought a new position in shares of Sunworks during the first quarter valued at $40,000. Finally, Prudential Financial Inc. bought a new position in shares of Sunworks during the second quarter valued at $28,000. 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.