BidaskClub cut shares of SunPower (NASDAQ:SPWR) from a hold rating to a sell rating in a research report released on Saturday, January 20th.
A number of other research firms also recently issued reports on SPWR. Robert W. Baird raised SunPower from a neutral rating to an outperform rating and increased their price target for the stock from $7.00 to $10.00 in a research report on Monday, December 11th. Bank of America decreased their price objective on SunPower from $12.00 to $10.00 and set a neutral rating for the company in a research note on Tuesday, September 26th. Morgan Stanley cut SunPower from an equal weight rating to an underweight rating and decreased their price objective for the stock from $7.22 to $6.00 in a research note on Wednesday, September 27th. Zacks Investment Research cut SunPower from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Finally, Guggenheim reiterated a hold rating on shares of SunPower in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $9.97.
SunPower (NASDAQ SPWR) traded up $0.10 on Friday, hitting $7.48. The stock had a trading volume of 3,742,521 shares, compared to its average volume of 3,365,596. SunPower 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. The company has a market cap of $1,050.00, a P/E ratio of -1.86 and a beta of 2.73.
In other SunPower news, Director Catherine A. Lesjak sold 23,632 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total value of $177,240.00. Following the sale, the director now directly owns 55,924 shares of the company’s stock, valued at $419,430. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of SPWR. Vanguard Group Inc. lifted its position in SunPower by 13.8% during the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after buying an additional 598,221 shares in the last quarter. Impax Asset Management LTD lifted its position in SunPower by 0.8% during the fourth quarter. Impax Asset Management LTD now owns 3,102,774 shares of the semiconductor company’s stock worth $26,156,000 after buying an additional 24,878 shares in the last quarter. State Street Corp lifted its position in SunPower by 14.0% during the second quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after buying an additional 296,862 shares in the last quarter. Guggenheim Capital LLC lifted its position in SunPower by 26.2% during the fourth quarter. Guggenheim Capital LLC now owns 2,237,502 shares of the semiconductor company’s stock worth $18,864,000 after buying an additional 464,072 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in SunPower by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock worth $12,991,000 after buying an additional 3,841 shares in the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.
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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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