B. Riley analyst Christopher Souther lowered the firm’s price target on Sono Group to $4 from $7 and keeps a Buy rating on the shares post the Q3 results. The company noted that financing its capex program via equity markets has been challenging and highly dilutive for existing shareholders, Souther tells investors in a research note. However, the analyst continues to see "long-term robust growth potential" in Sono’s ability to license its solar technology.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on SEV:
- Sono Motors price target lowered to $4 from $6 at Craig-Hallum
- Sono Motors price target lowered to $3 from $6 at Cantor Fitzgerald
- Third Quarter 2022: Increase in Reservations and Multiple International Partnerships Signed
- Sono Motors sees “significant revenue growth” in next few quarters
- Sono Motors reports Q2 EPS (EUR 0.50) vs. (EUR 0.29) last year