Alliance Global Partners downgraded Nogin to Neutral from Buy and remove the firm’s price target after management said in a filing that it is engaged in discussions with certain holders of the company’s convertible notes with respect to deleveraging transactions and highlighted filing for bankruptcy among its options. The firm lowered its rating until the company can restructure its balance sheet and/or avoid bankruptcy, the analyst tells investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on NOGN: