SUNW Stock Price: Sunworks, Inc. retreats nearly 25% to the $3.00 area

Sunworks, Inc. (NASDAQ: SUNW) gives away some gains on Friday.
Shares jumped around 240% on Thursday, closing at $3.93.

FXStreet Team FXStreet

Shares of photovoltaic-based power systems maker Sunworks, Inc. (NASDAQ: SUNW) climbed as high as $8.50 during Thursday’s session, just to close around $3.93, rising nearly 240%.

(NASDAQ: SUNW) sharply climbed after its peer SPI Energy Co. Ltd. (NASDAQ: SPI) skyrocketed more than 1,200% on Wednesday following news that it will start an electric-vehicle subsidiary.

The rally in Sunworks, Inc. (NASDAQ: SUNW) came after the NASDAQ delivered a delisting notice on Tuesday, as the company failed to clinch a minimum bid price of $1 per share.

SUNW Stock Forecast

During the premarket activity, Sunworks, Inc. (NASDAQ: SUNW) is down 26.70% at $2.87 and faces the next resistance at Thursday’s close at $3.93 ahead of $8.50 (high Sep24). On the downside, the next hurdle is located at $1.82 (monthly high Jul.23) seconded by $1.28 (low Jul.1) and finally $0.78 (200-day SMA).

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