Sunworks price target lowered to $4 from $6 at Northland

Northland lowered the firm’s price target on Sunworks to $4 from $6 and keeps an Outperform rating on the shares. The company delivered "an impressive Q4 revenue beat," but gross margins and adjusted EBITDA came in lower than expected as it seems operating leverage from higher volumes is "taking a bit longer to lead to profitability" than the firm previously expected. The firm’s lowered target reflects a longer path to positive adjusted EBITDA, the analyst tells investors.