In today’s recent session, 0.98 million shares of the Sunworks Inc. (NASDAQ:SUNW) have been traded, and its beta is 1.51. Most recently the company’s share price was $6.34, and it changed around $0.69 or 12.27% from the last close, which brings the market valuation of the company to $156.90M. SUNW at last check was trading at a discount to its 52-week high of $29.37, offering almost -363.25% off that amount. The share price’s 52-week low was $2.55, which indicates that the recent value has risen by an impressive 59.78% since then. We note from Sunworks Inc.’s average daily trading volume that its 10-day average is 0.94 million shares, with the 3-month average coming to 1.13 million.
Sunworks Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended SUNW as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Sunworks Inc. is expected to report earnings per share of -$0.18 for the current quarter.
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Instantly SUNW has been showing a green trend so far today with a performance of 12.27% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 6.22 on Friday, 10/08/21 decreased the stock’s daily price by -1.93%. The company’s shares are currently up 10.35% year-to-date, but still down -8.87% over the last five days. On the other hand, Sunworks Inc. (NASDAQ:SUNW) is -19.74% down in the 30-day period. We can see from the shorts that 3.92 million shares have been sold at a short interest cover period of 1.81 day(s).
The consensus price target as assigned by Wall Street analysts is $8.00, which translates to bulls needing to increase their stock price by 20.75% from its current value. Analyst projections state that SUNW is forecast to be at a low of $8.00 and a high of $8.00. In order for the stock price to hit the forecast high, the stock would need to plunge -26.18% from its current level, while the stock would need to crash -26.18% from its current level to reach the projected low.
Sunworks Inc. (SUNW) estimates and forecasts
Sunworks Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -53.50 percent over the past six months and at a 11.94% annual growth rate that is well above the industry average of 4.20%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report a decrease of -5.90% in the next quarter. The year-over-year growth rate is expected to be 236.00%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $33 million in revenue for the current quarter. 1 analysts expect Sunworks Inc. to make $31.5 million in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $7.3 million and $8.58 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 351.80%. Forecasts for the next quarter put sales growth at 267.20%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -39.50%. Sunworks Inc. earnings are expected to increase by 50.50% in 2021, but the outlook is positive 10.00% per year for the next five years.
Sunworks Inc.’s next quarterly earnings report is expected to be released around November 01 and November 05.
Sunworks Inc. (NASDAQ:SUNW)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.90% of Sunworks Inc. shares, and 32.48% of them are in the hands of institutional investors. The stock currently has a share float of 32.77%. Sunworks Inc. stock is held by 52 institutions, with Invesco Ltd. being the largest institutional investor. By Mar 30, 2021, it held 16.67% of the shares, which is about 4.51 million shares worth $66.19 million.
Susquehanna International Group, LLP, with 2.65% or 0.72 million shares worth $10.51 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF were the top two Mutual Funds as of May 30, 2021. The former held 2.76 million shares worth $23.91 million, making up 10.21% of all outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held roughly 1.19 million shares worth around $10.3 million, which represents about 4.40% of the total shares outstanding.