Why Shares of Sunworks Popped 39.3% on Wednesday

Shares of solar energy stock Sunworks (NASDAQ: SUNW) jumped as much as 39.3% in trading Wednesday after releasing preliminary fourth-quarter 2020 results. Shares gave back some of those gains late in the day but were still up 23.4% at 3:15 p.m. EST. 

Quarterly revenues are estimated to be $8.5 million with a gross margin of 16% to 17% and a net loss of $5 million. For the full year, revenues are expected to be about $38 million with a net loss of $16 million.

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Source Fool.com