Sunworks (SUNW) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Sunworks (NASDAQ:SUNW) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

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. “

Sunworks stock traded down $0.01 during trading hours on Friday, hitting $0.89. The stock had a trading volume of 82,089 shares, compared to its average volume of 63,776. The company has a current ratio of 1.23, a quick ratio of 0.72 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $23.12 million, a PE ratio of -2.78 and a beta of 1.42. Sunworks has a one year low of $0.88 and a one year high of $1.88.

Sunworks (NASDAQ:SUNW) last posted its earnings results on Wednesday, August 8th. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The firm had revenue of $19.99 million during the quarter, compared to the consensus estimate of $26.40 million. Sunworks had a negative net margin of 12.46% and a negative return on equity of 56.59%. analysts predict that Sunworks will post -0.09 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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