Sunworks (SUNW) Stock Spikes, Announces Deal with Amazon.com

NEW YORK (TheStreet) -- Shares of Sunworks (SUNW) are jumping 9.75% to $2.59 on heavy trading volume Thursday morning as the company announced that Amazon.com (AMZN) has hired the company to oversee solar energy projects for the e-commerce giant's fulfillment centers.

Sunworks will oversee the rooftop solar installations of projects in Reno, NV and Windsor, CT.

The contract will run for about 12 weeks from July through October.

The Roseville, CA-based solar power solutions company will provide engineering and technical support, documentation of progress and on-site services and coordination between vendor activities, according to a statement.

About 2.35 million of Sunworks' shares changed hands so far this morning compared to its average 30-day volume of 181,730 shares per day.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth.

But the team also finds weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: SUNW

More from Markets

Jim Cramer: This Is a Sad Time for Southwest Airlines

Jim Cramer: This Is a Sad Time for Southwest Airlines

Jim Cramer Just Spoke to Larry Kudlow About the China Trade Negotiations

Jim Cramer Just Spoke to Larry Kudlow About the China Trade Negotiations

Stocks Rise, Facebook Ignites a Nasdaq Rally

Stocks Rise, Facebook Ignites a Nasdaq Rally

Short Seller Chanos Slams Tesla's Musk, Accuses Him of 'Incinerating' Capital

Short Seller Chanos Slams Tesla's Musk, Accuses Him of 'Incinerating' Capital

AMD Shares Explode After Solid Q1, Robust Outlook That Defies Chip Sector Gloom

AMD Shares Explode After Solid Q1, Robust Outlook That Defies Chip Sector Gloom