Sunworks (SUNW) PT Lowered to $8 at Roth Capital After Earnings Miss

May 17, 2021 6:51 AM EDT
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Price: $6.15 -2.84%

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    0 Buy, 2 Hold, 0 Sell

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Roth Capital analyst Philip Shen lowered the price target on Sunworks (NASDAQ: SUNW) to $8.00 (from $10.75) after the company posted lower-than-expected Q1'21 revenue of $6.2mn vs. ROTHe of $8.3mn.

The analyst reiterated a Neutral rating, stating "we note these results were prior to the Solcius acquisition being closed. We look forward to the addition of Solcius and how it will complement the SUNW business going forward. We adjusted our estimates modestly and look forward to more details on the business combination in the coming months."

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