The Vanguard Group, Inc. recently announced the acquisition of new stake in Sunworks Inc (NASDAQ:SUNW). The institutional investor has increased its shareholding in the Technology company by 0.72% to 1.79 million shares with purchase of 12751.0 shares. This fresh investment now brings its stake to 3.15% valued currently at $0.52 million. In addition, Geode Capital Management LLC raised its holdings by 47024.0 to 0.37 million shares. And MAI Capital Management LLC has lifted its position by 20.42% or 10638.0 shares – to 62740.0 shares.
With over 6.77 million Sunworks Inc (SUNW) shares trading Monday and a closing price of $0.24 on the day, the dollar volume was approximately $1.63 million. The shares have shown a negative half year performance of -78.77% and its price on 01/08/24 gained nearly 22.22%. Currently, there are 56.78M common shares owned by the public and among those 53.82M shares have been available to trade.
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Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 2,245,641 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 193,965 shares.
The top 3 mutual fund holders in Sunworks Inc are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Bridgeway Ultra Small Company Fun. Vanguard Total Stock Market ETF owns 1.3 million shares of the company’s stock, all valued at over $0.38 million. Bridgeway Ultra Small Company Fun now owns shares totaling to 0.53% of the shares outstanding.
However, the script later moved the day high at 0.2580, up 22.22%. The company’s stock has a 5-day price change of 3.07% and -51.36% over the past three months. SUNW shares are trading 3.07% year to date (YTD), with the 12-month market performance down to -85.42% lower. It has a 12-month low price of $0.20 and touched a high of $2.46 over the same period. SUNW has an average intraday trading volume of 2.71 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.00%, -16.93%, and -71.66% respectively.
Institutional ownership of Sunworks Inc (NASDAQ: SUNW) shares accounts for 6.24% of the company’s 56.78M shares outstanding. Mutual fund holders own 4.44%, while other institutional holders and individual stakeholders account for 5.63% and 1.80% respectively.
It has a market capitalization of $13.74M and a beta (3y monthly) value of 1.60. The earnings-per-share (ttm) stands at -$1.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.66% over the week and 18.10% over the month.
Analysts forecast that Sunworks Inc (SUNW) will achieve an EPS of -$0.26 for the current quarter, -$0.23 for the next quarter and -$0.88 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.26 while analysts give the company a high EPS estimate of -$0.26. Comparatively, EPS for the current quarter was -$0.2 a year ago. Earnings per share for the fiscal year are expected to decrease by -87.21%, and 45.34% over the next financial year. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 17.44% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Sunworks Inc (SUNW) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SUNW, a number of firms have released research notes about the stock. Colliers Securities stated their Buy rating for the stock in a research note on March 01, 2022, with the firm’s price target at $5.50.
