Credit Suisse Group reiterated their neutral rating on shares of SunPower Corporation (NASDAQ:SPWR) in a research note issued to investors on Thursday morning. The brokerage currently has a $8.00 price objective on the stock, down from their prior price objective of $9.00.

Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of SunPower Corporation from a strong-buy rating to a buy rating and set a $8.42 price target on the stock. in a research note on Wednesday, January 11th. Barclays PLC reaffirmed an equal weight rating on shares of SunPower Corporation in a research note on Thursday, November 10th. J P Morgan Chase & Co reaffirmed a hold rating and set a $11.00 price target on shares of SunPower Corporation in a research note on Thursday, November 10th. Zacks Investment Research raised shares of SunPower Corporation from a sell rating to a hold rating in a report on Monday, December 12th. Finally, Bank of America Corporation lowered shares of SunPower Corporation from a buy rating to a neutral rating and decreased their price objective for the stock from $20.00 to $10.00 in a report on Wednesday, November 9th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company. SunPower Corporation has an average rating of Hold and an average price target of $13.63.

Shares of SunPower Corporation (NASDAQ:SPWR) opened at 6.76 on Thursday. SunPower Corporation has a one year low of $6.00 and a one year high of $25.29. The stock has a 50 day moving average of $6.98 and a 200-day moving average of $8.27. The stock’s market capitalization is $935.71 million.

SunPower Corporation (NASDAQ:SPWR) last released its quarterly earnings results on Wednesday, February 15th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by $0.19. SunPower Corporation had a positive return on equity of 16.65% and a negative net margin of 16.95%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm earned $1.73 EPS. Equities analysts predict that SunPower Corporation will post ($0.30) earnings per share for the current fiscal year.

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In other SunPower Corporation news, insider Howard Wenger purchased 10,000 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was acquired at an average cost of $7.74 per share, with a total value of $77,400.00. Following the acquisition, the insider now owns 215,078 shares of the company’s stock, valued at approximately $1,664,703.72. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.06% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new position in SunPower Corporation during the third quarter valued at approximately $129,000. Teacher Retirement System of Texas raised its position in SunPower Corporation by 28.6% in the second quarter. Teacher Retirement System of Texas now owns 8,613 shares of the company’s stock valued at $133,000 after buying an additional 1,914 shares during the period. North Star Investment Management Corp. raised its position in SunPower Corporation by 25.8% in the third quarter. North Star Investment Management Corp. now owns 15,600 shares of the company’s stock valued at $139,000 after buying an additional 3,200 shares during the period. Cipher Capital LP acquired a new position in SunPower Corporation during the fourth quarter valued at approximately $155,000. Finally, CSS LLC IL raised its position in SunPower Corporation by 2.1% in the third quarter. CSS LLC IL now owns 18,106 shares of the company’s stock valued at $162,000 after buying an additional 367 shares during the period. 30.80% of the stock is owned by institutional investors and hedge funds.

SunPower Corporation Company Profile

SunPower Corporation is a global energy company. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: Residential Segment, Commercial Segment and Power Plant Segment. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements.

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