What happened 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. So what 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. Image source: Getty Images. Management highlighted the fact that Sunworks' cash balance was $39.4 million with a backlog of $42.6 million. That should keep the company afloat long enough to institute its growth initiatives. Now what Sunworks has been one of the hottest stocks in solar energy, but you can see that the company is still losing money and has an uphill battle against large competitors. While this could be a high-performing stock if it can break out of its small niche in solar, I think the odds are stacked against it. Traders love the numbers coming out today, but I see losses mounting, and that needs to improve in 2021 before I'll jump on the stock. 10 stocks we like better than SunworksWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Sunworks wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source