Could Sunworks, Inc. (SUNW) Decrease Even More? The Stock Formed Double Bottom Chart Pattern

June 16, 2018 - By Adrian Mccoy

Sunworks, Inc. (NASDAQ:SUNW) Logo

The chart of Sunworks, Inc. (SUNW) shows a double bottom with $0.98 target or 8.00 % below today’s $1.07 share price. The 8 months chart pattern indicates high risk for the $27.45 million company. It was reported on Jun, 16 by Finviz.com. If the $0.98 price target is reached, the company will be worth $2.20 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 6.14% or $0.07 during the last trading session, reaching $1.07. About 70,250 shares traded. Sunworks, Inc. (NASDAQ:SUNW) has declined 25.97% since June 16, 2017 and is downtrending. It has underperformed by 38.54% the S&P500.

Analysts await Sunworks, Inc. (NASDAQ:SUNW) to report earnings on August, 9. They expect $-0.02 earnings per share, down 150.00 % or $0.06 from last year’s $0.04 per share. After $-0.07 actual earnings per share reported by Sunworks, Inc. for the previous quarter, Wall Street now forecasts -71.43 % EPS growth.

More important recent Sunworks, Inc. (NASDAQ:SUNW) news were published by: Bizjournals.com which released: “Roseville solar company Sunworks appoints new chairman, CFO” on June 06, 2018, also Globenewswire.com published article titled: “Sunworks Celebrates Completion of 1.4 MW Solar Project”, Nasdaq.com published: “Sunworks Promotes Philip Radmilovic to Chief Financial Officer, Names Joshua Schechter Chairman of the Board of …” on June 05, 2018. More interesting news about Sunworks, Inc. (NASDAQ:SUNW) was released by: Nasdaq.com and their article: “Sunworks to Complete Solar Roof Mount and Carport Installation for Meridian Terrace Mobile Home Park” with publication date: May 22, 2018.

Sunworks, Inc. provides photo voltaic based power systems for the agricultural, commercial, industrial, and residential markets in the United States. The company has market cap of $27.45 million. It also designs, finances, integrates, installs, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger commercial projects. It currently has negative earnings. In addition, the firm offers various installation services, including design, system engineering, procurement, permitting, construction, grid connection, warranty, system monitoring, and maintenance services to its solar energy customers.

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