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Why Shares of Sunworks Popped 39.3% on Wednesday

Why Shares of Sunworks Popped 39.3% on Wednesday

Quarterly revenues are estimated to be $8.5 million with a gross margin of 16% to 17% and a net loss of $5 million. Management highlighted the fact that Sunworks' cash balance was $39.4 million with a backlog of $42.6 million. Sunworks has been one of the hottest stocks in solar energy, but you can see that the company is still losing money and has an uphill battle against large competitors.