The stock of Sunworks Inc (NASDAQ:SUNW) gapped up by $0.01 today and has $6.09 target or 135.00% above today’s $2.59 share price. The 9 months technical chart setup indicates low risk for the $54.65M company. The gap was reported on Oct, 4 by Barchart.com. If the $6.09 price target is reached, the company will be worth $73.78 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 0.78% or $0.02 on October 3, hitting $2.59. About 85,311 shares traded hands. Sunworks Inc (NASDAQ:SUNW) has risen 4.02% since March 1, 2016 and is uptrending. It has underperformed by 8.20% the S&P500.
Analysts await Sunworks Inc (NASDAQ:SUNW) to report earnings on November, 3.
According to Zacks Investment Research, “Sunworks, Inc. provides solar power solutions. The company focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Sunworks, Inc., formerly known as Solar3D, Inc., is based in Roseville, United States.”
More notable recent Sunworks Inc (NASDAQ:SUNW) news were published by: Bizjournals.com which released: “Sunworks turns to profit, anticipates doubling revenue” on August 10, 2016, also Seekingalpha.com with their article: “Sunworks: SolarCity Sans Baggage And High Price” published on March 16, 2016, Sacbee.com published: “Roseville’s Sunworks Inc. sees revenue soar, losses fall” on May 11, 2016. More interesting news about Sunworks Inc (NASDAQ:SUNW) were released by: Seekingalpha.com and their article: “Sunworks – Exponential Growth At A Value Price” published on July 18, 2016 as well as Seekingalpha.com‘s news article titled: “Don’t Sweat The Dilution At Sunworks” with publication date: July 11, 2016.
SUNW Company Profile
Sunworks, Inc., formerly Solar3D, Inc., incorporated on January 30, 2002, provides photo voltaic (PV) based power systems for the residential, commercial and agricultural markets in California and Nevada. The Company, through its operating subsidiaries, designs, arranges financing, integrates, installs and manages systems ranging in size from 2 kilowatt (KW) for residential loads to multi megawatts (MW) systems for larger commercial projects.
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