The trading price of Sunworks, Inc. (NASDAQ:SUNW) floating lower at last check on Monday, May 17, closing at $8.03, -8.72% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $7.27 and $8.05. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 1.55. In examining the 52-week price action we see that the stock hit a 52-week high of $29.37 and a 52-week low of $0.36. Over the past month, the stock has suffered -24.81% in value.
Analysts have forecast the company to bring in revenue of $35Million for the quarter, with the likely lows of $35Million and highs of $35Million. The average estimate suggests sales will likely up by 261.9% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $129.3 Million. The company’s revenue is forecast to grow by +241% over what it did in 2020.
On the technical side, indicators suggest SUNW has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned SUNW a recommendation rating is 1. Out of them, 1 rate it a Hold, while none recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Sunworks, Inc. (SUNW) as Underperform, while not any of them advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that SUNW’s price is currently -26.9% off the SMA20 and -39.39% off the SMA50. The RSI metric on the 14-day chart is currently showing 30.85, and weekly volatility stands at 13.46%. When measured over the past 30 days, the indicator reaches 11.1%. Sunworks, Inc. (NASDAQ:SUNW)’s beta value is currently sitting at 1.55, while the Average True Range indicator is currently displaying 1.09. With analysts defining $8-$8 as the low and high price targets, we arrive at a consensus price target of $8 for the trailing 12-month period. The current price is about 9.14% off the estimated low and 9.14% off the forecast high, based on this estimate. Investors will be thrilled if SUNW’s share price rises to $8, which is the median consensus price. At that level, SUNW’s share price would be +9.14% above current price.
To see how Sunworks, Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: SUNW stock’s performance was -8.72% at last check in today’s session, and +2013.16% in the past year, while Enphase Energy Inc (ENPH) has been trading -3.62% in recent session and positioned +110.21% higher than it was a year ago. Another comparable company Solaredge Tech (SEDG) saw its stock trading -1.51% lower in today’s session but was up +83.19% in a year. Furthermore, Sunrun Inc (RUN) showed a decline of -8.72% today while its price kept rising at 2013.16% over the past year. Sunworks, Inc. has a P/E ratio of 0, compared to Enphase Energy Inc’s 195.08 and Solaredge Tech’s 91.23. Also during today’s trading, the S&P 500 Index has soared -0.46%, while the Dow Jones Industrial also saw a negative seesion, down -0.34% today.
An evaluation of the daily trading volume of Sunworks, Inc. (NASDAQ:SUNW) indicates that the 3-month average is 7.64 Million. However, this figure has declined over the past 10 days to an average of 6.81 Million.
Currently, records show that 27.05 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 0.91% of outstanding shares, whereas institutions hold 23.99%. The stats also highlight that short interest as of April 14, 2021, stood at 3.56 Million shares, resulting in a short ratio of 0.92 at that time. From this, we can conclude that short interest is 13.17% of the company’s total outstanding shares. It is noteworthy that short shares in April were up slightly from the previous month’s figure, which was 1.96 Million. However, since the stock’s price has seen +56.84% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.