UPDATE: Roth Capital Downgrades Sunworks (SUNW) to Neutral
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Roth Capital analyst Philip Shen downgraded Sunworks (NASDAQ: SUNW) from Buy to Neutral with a price target of $0.38 (from $2.20).
The analyst comments "SUNW delivered a Q4 miss with results negatively impacted by legacy lowmargin projects and operational inefficiencies. We believe the company has the liquidity—for now—to survive given the cash raised in Q1 from the ATM and potential infusion from loans enabled by the federal stimulus package. That said, we are downgrading to Neutral given SUNW’s challenged outlook for earnings complicated by the complexity caused by COVID-19."
Shares of Sunworks closed at $0.36 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesRoth Capital, Earnings
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