Sunworks Inc (SUNW) is looking forward to a strong quarter

Sunworks Inc (NASDAQ: SUNW) stock fell -0.64% on Friday to $0.28 against a previous-day closing price of $0.28. With 1.27 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.3 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $0.2998 whereas the lowest price it dropped to was $0.2800. The 52-week range on SUNW shows that it touched its highest point at $2.57 and its lowest point at $0.28 during that stretch. It currently has a 1-year price target of $0.35. Beta for the stock currently stands at 1.90.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SUNW was down-trending over the past week, with a drop of -9.68%, but this was down by -29.88% over a month. Three-month performance dropped to -70.83% while six-month performance fell -74.55%. The stock lost -88.98% in the past year, while it has lost -82.28% so far this year. A look at the trailing 12-month EPS for SUNW yields -1.55 with Next year EPS estimates of -0.88. For the next quarter, that number is -0.26. This implies an EPS growth rate of -87.21% for this year and 45.34% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 17.44%.

Float and Shares Shorts:

At present, 56.78 million SUNW shares are outstanding with a float of 53.43 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.95 million, which was 11.18% higher than short shares on Sep 28, 2023.

Institutional Ownership:

Through their ownership of 12.10% of SUNW’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.76% of SUNW, in contrast to 5.69% held by mutual funds. Shares owned by individuals account for 2.34%. As the largest shareholder in SUNW with 4.04% of the stake, The Vanguard Group, Inc. holds 1,789,479 shares worth 1,789,479. A second-largest stockholder of SUNW, BlackRock Fund Advisors, holds 435,323 shares, controlling over 0.98% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in SUNW, holding 366,177 shares or 0.83% stake. With a 2.93% stake in SUNW, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,299,138 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.06% of SUNW stock, is the second-largest Mutual Fund holder. It holds 468,374 shares valued at 0.16 million. Bridgeway Ultra Small Company Fun holds 0.68% of the stake in SUNW, owning 302,073 shares worth 0.1 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SUNW since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SUNW analysts setting a high price target of $0.35 and a low target of $0.35, the average target price over the next 12 months is $0.35. Based on these targets, SUNW could surge 25.0% to reach the target high and rise by 25.0% to reach the target low. Reaching the average price target will result in a growth of 25.0% from current levels.

Summary of Insider Activity:

Insiders traded SUNW stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 1,380 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 749,191 while 24,600 shares were sold.