NEWS BUZZ: Sunworks (NASDAQ:SUNW)

Sunworks (NASDAQ:SUNW) changed -7.49% to recent value of $0.64. The stock transacted 1987527 shares during most recent day however it has an average volume of 1146.43K shares. It spotted trading -67.26% off 52-week high price. On the other end, the stock has been noted 162.20% away from the low price over the last 52-weeks.

Sunworks (NASDAQ:SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, reported a new 751 kW solar power construction project for Plumas Mutual Water District, a water company located in Yuba City, California that distributes water for farming operations.

Sunworks Chief Executive Officer, Chuck Cargile, said, “Water districts in California are faced with many challenges, including water shortages, drought and resiliency challenges. Solar can help address these issues in a cost effective way while also helping to ensure crop production and yield are maximized.”

Construction of the new $1.3 million, 751kW ground-mount system project is expected to commence later this year with revenues recognized in the fourth quarter and into the first half of 2019.

Joe Danna, Director of Plumas Mutual said, “From our first meeting, it was clear that the Sunworks team had a strong understanding of our challenges and goals. They designed a system that was tailored to our requirements and helped us understand how we can maximize our cost, so we can serve our customers in a more sustainable and resilient way.”

SUNW has a gross margin of 13.80% and an operating margin of -11.60% while its profit margin remained -12.80% for the last 12 months. Its earnings per share (EPS) expected to touch remained 29.20% for this year while earning per share for the next 5-years is expected to reach at 10.00%.

The company has 27.62M of outstanding shares and 23.33M shares were floated in the market. According to the most recent quarter its current ratio was 0.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -20.83% from the mean of 20 days, -31.45% from mean of 50 days SMA and performed 13.77% from mean of 200 days price. Company’s performance for the week was -12.24%, -0.77% for month and YTD performance remained 146.18%.

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