SunPower Corporation (NASDAQ:SPWR) has received a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.27.
SPWR has been the subject of a number of research reports. Robert W. Baird reaffirmed a “hold” rating and set a $7.00 target price on shares of SunPower Corporation in a report on Friday, September 1st. Zacks Investment Research raised shares of SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Monday, August 7th. Axiom Securities reaffirmed a “buy” rating on shares of SunPower Corporation in a report on Saturday, July 22nd. Morgan Stanley lowered shares of SunPower Corporation from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $7.22 to $6.00 in a report on Wednesday, September 27th. Finally, ValuEngine raised shares of SunPower Corporation from a “sell” rating to a “hold” rating in a report on Saturday, November 4th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cortland Associates Inc. MO purchased a new stake in SunPower Corporation during the third quarter worth about $109,000. CAPROCK Group Inc. increased its stake in SunPower Corporation by 1.1% during the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 128 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in SunPower Corporation during the third quarter worth about $112,000. HighTower Advisors LLC purchased a new stake in SunPower Corporation during the second quarter worth about $124,000. Finally, Candriam Luxembourg S.C.A. purchased a new stake in SunPower Corporation during the second quarter worth about $130,000. 27.90% of the stock is currently owned by institutional investors.
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SunPower Corporation (NASDAQ:SPWR) traded down $0.16 during trading on Friday, hitting $7.96. 2,896,409 shares of the stock were exchanged, compared to its average volume of 3,513,255. SunPower Corporation has a fifty-two week low of $5.84 and a fifty-two week high of $11.70. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71.
SunPower Corporation (NASDAQ:SPWR) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.60. SunPower Corporation had a negative net margin of 24.91% and a negative return on equity of 20.81%. The business had revenue of $477.20 million during the quarter, compared to analyst estimates of $383.76 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was down 34.6% compared to the same quarter last year. equities research analysts anticipate that SunPower Corporation will post -0.77 EPS for the current fiscal year.
SunPower Corporation Company Profile
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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