Zacks Investment Research Downgrades Sunworks (NASDAQ:SUNW) to Sell

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

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. “

Separately, ValuEngine raised Sunworks from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd.

SUNW stock traded down $0.04 during trading on Wednesday, hitting $0.46. The company had a trading volume of 588,102 shares, compared to its average volume of 869,801. The stock has a 50-day moving average price of $0.56. Sunworks has a one year low of $0.25 and a one year high of $1.97. The firm has a market cap of $12.13 million, a PE ratio of -3.25 and a beta of 2.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.91.

Sunworks (NASDAQ:SUNW) last announced its earnings results on Friday, August 2nd. The semiconductor company reported $0.00 EPS for the quarter. Sunworks had a negative return on equity of 54.27% and a negative net margin of 10.45%. The business had revenue of $18.66 million for the quarter, compared to analysts’ expectations of $19.00 million. Equities analysts expect that Sunworks will post -0.17 earnings per share for the current fiscal year.

Sunworks Company Profile

Sunworks, Inc, through its subsidiaries, provides photo voltaic based power systems for the agricultural, commercial, industrial, and residential markets in California, Nevada, Oregon, and Washington, the United States. The company also designs, arranges, finances, integrates, installs, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger commercial projects.

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