Sunworks Inc (NASDAQ:SUNW) rose 21.4% on Thursday following a better than expected earnings announcement. The company traded as high as $0.55 and last traded at $0.51. Approximately 690,178 shares changed hands during trading, an increase of 450% from the average daily volume of 125,497 shares. The stock had previously closed at $0.42.
The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $18.28 million for the quarter, compared to analysts’ expectations of $22.20 million. Sunworks had a negative return on equity of 56.59% and a negative net margin of 12.46%.
SUNW has been the topic of a number of recent research reports. Zacks Investment Research upgraded Sunworks from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Chardan Capital cut Sunworks from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 14th.
About Sunworks (NASDAQ:SUNW)
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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