Sunworks, Inc. (NASDAQ:SUNW – Get Rating) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.20 and traded as low as $2.57. Sunworks shares last traded at $2.74, with a volume of 3,597,312 shares.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Sunworks from a “sell” rating to a “hold” rating in a report on Thursday, January 20th. Colliers Securities assumed coverage on shares of Sunworks in a report on Tuesday, March 1st. They set a “buy” rating and a $5.50 price objective on the stock.
The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 1.46. The company’s fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $4.20. The stock has a market cap of $80.15 million, a price-to-earnings ratio of -2.82 and a beta of 1.56.
In other news, CEO Gaylon Morris bought 10,000 shares of the stock in a transaction dated Wednesday, March 16th. The stock was bought at an average price of $3.11 per share, for a total transaction of $31,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new position in Sunworks during the third quarter valued at about $38,000. Virtu Financial LLC bought a new position in Sunworks during the fourth quarter valued at about $32,000. Trexquant Investment LP bought a new position in Sunworks during the third quarter valued at about $85,000. Morgan Stanley grew its position in Sunworks by 1,687.4% during the first quarter. Morgan Stanley now owns 24,344 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 22,982 shares during the period. Finally, Marshall Wace LLP bought a new position in Sunworks during the fourth quarter valued at about $79,000. Institutional investors own 24.28% of the company’s stock.
Sunworks Company Profile (NASDAQ:SUNW)
Sunworks, Inc engages in the provision of photovoltaic based power systems for the residential, commercial, and agricultural markets. Its services include design, system engineering, procurement, project installation, construction, grid connection, warranty, system monitoring, and maintenance. The company was founded by Roland F.
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