ValuEngine upgraded shares of SunPower (NASDAQ:SPWR) from a sell rating to a hold rating in a report published on Thursday morning, ValuEngine reports.
Other research analysts have also recently issued research reports about the stock. Goldman Sachs Group set a $14.00 price target on shares of SunPower and gave the stock a buy rating in a research note on Friday, November 1st. Roth Capital started coverage on shares of SunPower in a research note on Tuesday, February 4th. They set a neutral rating and a $9.00 target price on the stock. Cowen cut shares of SunPower from an outperform rating to a market perform rating and set a $10.00 target price on the stock. in a research note on Thursday. Credit Suisse Group lowered their target price on shares of SunPower from $14.50 to $11.00 and set an outperform rating on the stock in a research note on Friday, November 29th. Finally, Zacks Investment Research cut shares of SunPower from a hold rating to a sell rating and set a $10.00 target price on the stock. in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $8.93.
Shares of SunPower stock traded down $0.48 on Thursday, hitting $8.34. 8,828,736 shares of the company’s stock were exchanged, compared to its average volume of 3,830,364. The company has a 50-day simple moving average of $8.54 and a 200-day simple moving average of $10.02. The stock has a market capitalization of $1.19 billion, a PE ratio of -7.51 and a beta of 2.18. SunPower has a 1 year low of $5.75 and a 1 year high of $16.04.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Wednesday, February 12th. The semiconductor company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.15. The business had revenue of $607.00 million for the quarter, compared to analysts’ expectations of $615.05 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. Equities research analysts predict that SunPower will post -0.61 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of SunPower by 10.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,157 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,091 shares in the last quarter. Bank of Montreal Can lifted its stake in SunPower by 6.2% in the 4th quarter. Bank of Montreal Can now owns 26,177 shares of the semiconductor company’s stock worth $205,000 after purchasing an additional 1,532 shares in the last quarter. First Trust Advisors LP lifted its stake in SunPower by 1.8% in the 3rd quarter. First Trust Advisors LP now owns 140,337 shares of the semiconductor company’s stock worth $1,539,000 after purchasing an additional 2,416 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in SunPower in the 4th quarter worth $49,000. Finally, Russell Investments Group Ltd. purchased a new stake in SunPower in the 3rd quarter worth $69,000. Institutional investors own 31.60% of the company’s stock.
SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
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