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

A number of other brokerages have also recently issued reports on SUNW. Roth Capital assumed coverage on shares of Sunworks in a research note on Tuesday, June 27th. They issued a “neutral” rating and a $2.50 price target on the stock. Cowen and Company set a $3.00 price target on shares of Sunworks and gave the company a “buy” rating in a report on Tuesday, July 11th. ValuEngine raised shares of Sunworks from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Finally, Chardan Capital raised shares of Sunworks from a “neutral” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $2.67.

Shares of Sunworks (SUNW) traded up 7.43% during trading on Wednesday, hitting $1.59. The stock had a trading volume of 392,918 shares. The firm has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.60. The stock’s market capitalization is $35.70 million. Sunworks has a 52 week low of $1.28 and a 52 week high of $3.25.

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

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In other Sunworks news, insider Abraham Richard Emard sold 34,500 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $2.08, for a total transaction of $71,760.00. Following the completion of the sale, the insider now directly owns 532,567 shares in the company, valued at approximately $1,107,739.36. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders sold 245,239 shares of company stock valued at $464,391. 5.55% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Sunworks stock. Sei Investments Co. grew its stake in shares of Sunworks, Inc. (NASDAQ:SUNW) by 20.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,234 shares of the semiconductor company’s stock after buying an additional 10,408 shares during the period. Sei Investments Co. owned 0.27% of Sunworks worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 6.16% of the stock is owned by hedge funds and other institutional investors.

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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