Westpark Capital Remains a Buy on Real Goods Solar (RGSE)


In a report released today, Ishfaque Faruk from Westpark Capital maintained a Buy rating on Real Goods Solar (RGSE), with a price target of $2. The company’s shares opened today at $0.68.

Faruk wrote:

“We expect preliminary reservations to grow significantly from existing levels of ~$127M. The company has so far received orders from more than 80 roofers from all over the US. RGSE’s CEO expects homebuilders to start placing orders in 2H19, and pursue international expansion as well. Worth noting, the reservations might not lead to purchase orders as they represent an indication of interest. The company will benefit significantly from economies of scale and drive gross margins of the company higher. We believe the company will achieve earnings profitability in F’20. For F’19, we are now modeling revenues of $66.8M. We maintain our $2 PT and our the stock.”

Faruk has an average return of 64.4% when recommending Real Goods Solar.

According to TipRanks.com, Faruk is ranked #4606 out of 5127 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Real Goods Solar with a $2 average price target.

See today’s analyst top recommended stocks >>

Based on Real Goods Solar’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $18.29 million. In comparison, last year the company had a GAAP net loss of $4.42 million.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RGSE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Real Goods Solar, Inc. provides solar energy systems to homeowners, and commercial building owners. It offers turnkey services, including design, procurement, permitting, build-out, grid connection, financing referrals, and warranty and customer satisfaction activities. The firm operates through four segments: Residential, Sunetric, POWERHOUSE and Other.

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