Craig-Hallum analyst Alexander Nowak downgraded ProSomnus to Hold from Buy with a price target of $1, down from $10. ProSonmnus’s Q3 showed strong revenue growth, but concerns over the company’s tight financial position overshadowed the performance, the analyst tells investors in a research note. The firm is moving to the sidelines until capital needs are met or the guided cash-flow breakeven begins materializing.
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