The Future Is Here? Sunworks Inc. (SUNW)

Sunworks, Inc. (NASDAQ: SUNW) announced a 17 percent rise in its order book in a report. The company is developing its operations and creating a direct selling network, but its stock is trading 84% below its 52-week high. SUNW was trading at $1.87 on May 18.

SUNW provides equipment and services for solar power plants of various sizes, from tiny domestic to large industrial. The firm, among other things, offers services for incorporating solar systems into new homes while they are being built.

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Sunworks’ primary market is the United States. In this region, the overall capacity of new house solar systems climbed by 30% to 4.2 GW on over 500 thousand homes by 2021. Sunworks Inc. (SUNW) is shifting its sales strategy in this area from middlemen to direct sales.

So, in a year, the firm established a 250-person direct sales department. These initiatives are having a beneficial impact. The department delivered approximately 10% of the total installed panel capacity for clients in the previous quarter, and the business anticipates significant growth in the current quarter. Sunworks Inc. (SUNW) anticipates that direct sales will account for around 20% of total revenue in 2022.

The company anticipates a double-digit increase in total installed panel capacity over the next two years. Sunworks has already begun stockpiling in anticipation of increased demand in the coming months. Sunworks is also paying $51.8 million for Solcius, a privately held firm that installs solar panels in houses.

Solcius operates in 12 US states where solar energy is in high demand. Sunworks will be able to extend its direct sales network due to the purchase. Furthermore, the merged business will be profitable in its first year.

Sunworks Inc. (NASDAQ: SUNW) stock is up 34.53 percent in the last week but down -20.09 percent in the last quarter. Going back further, the stock’s price has been down -67.87 percent in the previous six months but is down -39.09 percent year to date.


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