5 Best Clean Energy Penny Stocks To Buy Now

3. Sunworks, Inc. (NASDAQ:SUNW)

Number of Hedge Fund Holders: 7     

Share Price as of August 4: $2.38 

Sunworks, Inc. (NASDAQ:SUNW) markets photovoltaic and battery-based power and storage systems. The stock has benefited from soaring prices for solar cells in the past few months, primarily because of supply chain problems also affecting other industries. However, reports indicate that China, one of the largest producers of solar cells, is exploring ways to bring the prices of these cells under control. One of these ways is pushing mining firms towards lithium, an important material for the manufacture of solar cells, and away from coal. 

In May, investment advisory Northland initiated coverage of Sunworks, Inc. (NASDAQ:SUNW) stock with an Outperform rating and a price target of $4.50. Analyst Donovan Schafer issued the ratings update. 

At the end of the first quarter of 2022, 7 hedge funds in the database of Insider Monkey held stakes worth $4.8 million in Sunworks, Inc. (NASDAQ:SUNW), up from 6 in the previous quarter worth $4.4 million. Among the hedge funds being tracked by Insider Monkey, New York-based firm Millennium Management is a leading shareholder in Sunworks, Inc. (NASDAQ:SUNW), with 603,519 shares worth more than $1.5 million.