Sunworks Inc. [NASDAQ: SUNW] gained 1.27% or 0.07 points to close at $5.60 with a heavy trading volume of 3651176 shares. The company report on November 13, 2020 that Sunworks Reports on Special Meeting of Stockholders.
Merger Proposal with Peck Company Fails to Win Stockholder Approval.
Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, announced that the proposed merger with the Peck Company Holdings, Inc. (“Peck Company”) failed to secure stockholder approval. Sunworks had established October 9, 2020 as the record date for determining stockholders eligible to vote at the special meeting of stockholders and as of that record date, there were 16,628,992 shares of common stock outstanding and entitled to vote. At the special meeting of stockholders on November 12, 2020, only 4,362,575 votes were cast, or 26% of the total outstanding shares. This total fell short of the quorum required to vote on the proposed merger with the Peck Company. Quorum requires the presence, virtually or represented by proxy, of the holders of a majority of the voting power of the stock issued, outstanding and entitled to vote as of the record date. Therefore, the special meeting of stockholders was concluded and the merger was not approved. Following the special meeting of stockholders, pursuant to the terms of the merger agreement with the Peck Company, Sunworks notified the Peck Company of its decision to terminate the merger agreement.
It opened the trading session at $5.97, the shares rose to $5.98 and dropped to $5.50, the range by which the price of stock traded the whole day. The daily chart for SUNW points out that the company has recorded 1054.16% gains over the past six months. However, it is still -1831.03% lower than its most recent low trading price.
If we look at the average trading volume of 14.41M shares, SUNW reached to a volume of 3651176 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Sunworks Inc. [SUNW]:
ROTH Capital have made an estimate for Sunworks Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 02, 2020. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Neutral. The new note on the price target was released on June 27, 2017, representing the official price target for Sunworks Inc. stock.
The Average True Range (ATR) for Sunworks Inc. is set at 0.71, with the Price to Sales ratio for SUNW stock in the period of the last 12 months amounting to 2.11. The Price to Book ratio for the last quarter was 17.50, with the Price to Cash per share for the same quarter was set at 0.28.
Trading performance analysis for SUNW stock
Sunworks Inc. [SUNW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.89. With this latest performance, SUNW shares gained by 106.26% in over the last four-week period, additionally plugging by 1054.16% over the last 6 months – not to mention a rise of 368.62% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SUNW stock in for the last two-week period is set at 64.87, with the RSI for the last a single of trading hit 64.06, and the three-weeks RSI is set at 64.37 for Sunworks Inc. [SUNW]. The present Moving Average for the last 50 days of trading for this stock 3.20, while it was recorded at 5.97 for the last single week of trading, and 1.29 for the last 200 days.
Sunworks Inc. [SUNW]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Sunworks Inc. [SUNW] shares currently have an operating margin of -13.92 and a Gross Margin at +10.55. Sunworks Inc.’s Net Margin is presently recorded at -15.35.
Return on Total Capital for SUNW is now -58.12, given the latest momentum, and Return on Invested Capital for the company is -69.53. Return on Equity for this stock declined to -99.64, with Return on Assets sitting at -29.16. When it comes to the capital structure of this company, Sunworks Inc. [SUNW] has a Total Debt to Total Equity ratio set at 63.12. Additionally, SUNW Total Debt to Total Capital is recorded at 38.69, with Total Debt to Total Assets ending up at 17.30. Long-Term Debt to Equity for the company is recorded at 48.86, with the Long-Term Debt to Total Capital now at 29.95.
Reflecting on the efficiency of the workforce at the company, Sunworks Inc. [SUNW] managed to generate an average of -$51,607 per employee. Receivables Turnover for the company is 4.46 with a Total Asset Turnover recorded at a value of 1.90.Sunworks Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.
Sunworks Inc. [SUNW]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Sunworks Inc. posted -0.59/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1,866.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SUNW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sunworks Inc. go to 10.00%.
An analysis of insider ownership at Sunworks Inc. [SUNW]
There are presently around $3 million, or 3.00% of SUNW stock, in the hands of institutional investors. The top three institutional holders of SUNW stocks are: CREATIVE PLANNING with ownership of 218,319, which is approximately New of the company’s market cap and around 0.52% of the total institutional ownership; JANE STREET GROUP, LLC, holding 72,158 shares of the stock with an approximate value of $0.4 million in SUNW stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.39 million in SUNW stock with ownership of nearly New of the company’s market capitalization.
Positions in Sunworks Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 6 institutional holders increased their position in Sunworks Inc. [NASDAQ:SUNW] by around 377,036 shares. Additionally, 8 investors decreased positions by around 123,046 shares, while 4 investors held positions by with 24,090 shares. The mentioned changes placed institutional holdings at 475,992 shares, according to the latest SEC report filing. SUNW stock had 4 new institutional investments in for a total of 372,223 shares, while 4 institutional investors sold positions of 62,126 shares during the same period.