Feb. 24 at 1:17 PM
$SUNE Sunation appears to be entering a clear turnaround phase. Revenue is growing, margins are improving, EBITDA has turned positive, and the balance sheet has been materially strengthened through debt reduction.
I believe the market is still pricing the company as distressed rather than as a business transitioning toward sustainable profitability. At
$1.33 per share with a market cap of roughly
$4–5M, the valuation looks disconnected from the operating progress. I believe a re rating toward normal small cap solar multiples is reasonable, implying a potential value of
$8–
$15 per share.
