SunPower Corporation (NASDAQ:SPWR) Cut to Hold at BidaskClub
BidaskClub downgraded shares of SunPower Corporation (NASDAQ:SPWR) from a buy rating to a hold rating in a research note released on Tuesday.
A number of other equities research analysts also recently commented on SPWR. Axiom Securities reiterated a buy rating on shares of SunPower Corporation in a research report on Saturday, July 22nd. Vetr upgraded SunPower Corporation from a buy rating to a strong-buy rating and set a $12.52 price objective for the company in a research report on Tuesday, July 18th. Zacks Investment Research downgraded SunPower Corporation from a strong-buy rating to a hold rating in a research report on Wednesday, July 12th. Cowen and Company set a $12.00 price objective on SunPower Corporation and gave the company a buy rating in a research report on Monday, July 10th. Finally, ValuEngine upgraded SunPower Corporation from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $9.36.
SunPower Corporation (NASDAQ:SPWR) traded up 2.90% during trading on Tuesday, reaching $11.35. The company’s stock had a trading volume of 5,377,704 shares. The firm’s market capitalization is $1.58 billion. The firm has a 50-day moving average price of $9.37 and a 200-day moving average price of $7.73. SunPower Corporation has a 52 week low of $5.84 and a 52 week high of $15.61.
SunPower Corporation (NASDAQ:SPWR) last announced its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.13. SunPower Corporation had a negative return on equity of 10.47% and a negative net margin of 20.21%. The company had revenue of $429.50 million during the quarter, compared to the consensus estimate of $388.07 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts anticipate that SunPower Corporation will post ($1.08) EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in SunPower Corporation by 26.7% in the fourth quarter. State Street Corp now owns 1,798,903 shares of the semiconductor company’s stock valued at $11,895,000 after buying an additional 379,112 shares during the last quarter. AQR Capital Management LLC boosted its stake in SunPower Corporation by 454.7% in the first quarter. AQR Capital Management LLC now owns 284,548 shares of the semiconductor company’s stock valued at $1,736,000 after buying an additional 233,249 shares during the last quarter. Rock Point Advisors LLC boosted its stake in SunPower Corporation by 53.9% in the first quarter. Rock Point Advisors LLC now owns 530,119 shares of the semiconductor company’s stock valued at $3,234,000 after buying an additional 185,725 shares during the last quarter. Karp Capital Management Corp bought a new stake in SunPower Corporation during the first quarter valued at $838,000. Finally, Impax Asset Management LTD boosted its stake in SunPower Corporation by 5.3% in the first quarter. Impax Asset Management LTD now owns 2,563,914 shares of the semiconductor company’s stock valued at $15,638,000 after buying an additional 129,157 shares during the last quarter. Institutional investors and hedge funds own 25.51% of the company’s stock.
About SunPower Corporation
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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