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Colliers Securities Thinks Sunworks’ Stock is Going to Recover

Colliers Securities analyst Donovan Schafer CFA reiterated a Buy rating on Sunworks (SUNWResearch Report) today and set a price target of $5.50. The company’s shares closed last Friday at $2.24, close to its 52-week low of $1.70.

According to TipRanks.com, CFA is a 1-star analyst with an average return of -11.9% and a 30.8% success rate. CFA covers the Consumer Goods sector, focusing on stocks such as Electric Last Mile Solutions, Lightning eMotors, and Hyzon Motors.

Sunworks has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.

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Based on Sunworks’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $31.22 million and GAAP net loss of $6.46 million. In comparison, last year the company earned revenue of $7.3 million and had a GAAP net loss of $2.85 million.

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Sunworks, Inc. engages in providing photovoltaic based power systems for the residential, commercial, and agricultural markets. Its services include design, system engineering, procurement, project installation, construction, grid connection, warranty, system monitoring, and maintenance. The company was founded by Roland F. Bryan, Mark P. Harris and Christopher T. Kleveland in 1983 and is headquartered in Roseville, CA.

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