Sono Motors price target lowered to $4 from $6 at Craig-Hallum

Craig-Hallum analyst Eric Stine lowered the firm’s price target on Sono Motors to $4 from $6 and keeps a Buy rating on the shares following the Q3 report, which also included an update on its platform and on its financing outlook. Stine notes growth in B2C reservations, the completed build of 17 series validation vehicles, strength in its B2B reservation book, and more partner additions for its solar technology, but on the financing front, if its community marketing campaign to raise money in support of its financing plans is unsuccessful, Sono will pause or stop its Sion plans and focus solely on its much less capital intensive solar technology business, the analyst tells investors in a research note.