UPDATE: Roth Capital Downgrades Sunworks (SUNW) to Neutral

April 2, 2020 4:48 AM EDT
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Price: $6.05 -0.33%

Rating Summary:
    0 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 13 | New: 52
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(Updated - April 2, 2020 4:53 AM EDT)

(updating comment)

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."

For an analyst ratings summary and ratings history on Sunworks click here. For more ratings news on Sunworks click here.

Shares of Sunworks closed at $0.36 yesterday.

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