Chief Financial Officer Bonfigt Jason Lee acquire 1,000 shares of Sunworks Inc. [SUNW]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Sunworks Inc. shares valued at $1,810 were purchased by Bonfigt Jason Lee on Jun 14. At $1.81 per share, Bonfigt Jason Lee acquired 1,000 shares. The insider’s holdings grew to 141,358 shares worth approximately $0.35 million following the completion of this transaction.

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Also, Morris Gaylon purchased 10,000 shares, netting a total of over 19,000 in proceeds. Following the buying of shares at $1.90 each, the insider now holds 230,000 shares.

Before that, Bonfigt Jason Lee had added 2,500 shares to its account. In a trade valued at $4,750, the Chief Financial Officer bought Sunworks Inc. shares for $1.90 each. Upon closing the transaction, the insider’s holdings increased to 2,500 shares, worth approximately $0.35 million.

As published in their initiating research note from Colliers Securities on March 01, 2022, Sunworks Inc. [SUNW] has been a Buy and the price target has been revised to $5.50. This represents a 54.73% premium over Thursday’s closing price. As of April 02, 2020, ROTH Capital has decreased its “Buy” rating to a “Neutral” for SUNW. Earlier on June 27, 2017, ROTH Capital initiated its rating. Their recommendation was “a Neutral” for SUNW stock.

Analyzing SUNW’s Price Performance

On Thursday, Sunworks Inc. [NASDAQ: SUNW] rose 4.62% to $2.49. The stock’s lowest price that day was $2.33, but it reached a high of $2.50 in the same session. During the last five days, there has been a surge of approximately 23.88%. Over the course of the year, Sunworks Inc. shares have dropped approximately -18.89%. Shares of the company reached a 52-week high of $5.11 on 03/08/22 and a 52-week low of $1.23 on 05/12/22. A 50-day SMA is recorded $1.85, while a 200-day SMA reached $2.86. Nevertheless, trading volume fell to 1.46 million shares from 3.62 million shares the previous day.

Support And Resistance Levels for Sunworks Inc. (SUNW)

According to the 24-hour chart, there is a support level at 2.38, which, if violated, would cause prices to drop to 2.27. In the upper region, resistance lies at 2.55. The next price resistance is at 2.61. RSI (Relative Strength Index) is 67.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.50, which suggests the price will decrease in the coming days. Percent R is at 13.15%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Sunworks Inc. subject to short interest?

Stocks of Sunworks Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.22 million shares to 3.58 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.36 million shares. A jump of 6.15% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.6 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.6.

Which companies own the most shares of Sunworks Inc. (SUNW)?

According to The Vanguard Group, Inc. filings, the company currently owns 1,026,482 shares, which is about 3.12% of the total SUNW shares outstanding. The investor’s shares have plunged by -169,327 from its previous 13-F filing of 1195809.0 shares. Renaissance Technologies LLC reduced a -48.65% interest valued at $0.89 million while BlackRock Fund Advisors purchased a 694 stake. A total of 292,571 shares of Sunworks Inc. were bought by D. E. Shaw & Co. LP during the quarter, and 32,625 were bought by Geode Capital Management LLC. In its current portfolio, HRT Financial LLC holds 229,927 shares valued at $0.36 million.

In terms of Sunworks Inc. share price expectations, FactSet research, analysts set an average price target of $3.25 in the next 12 months, up nearly 36.55% from the previous closing price of $2.38. Analysts anticipate Sunworks Inc. stock to reach $4.50 by 2022, with the lowest price target being $2.00. In spite of this, 2 analysts ranked Sunworks Inc. stock as an Overweight at the end of 2022.


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