SunPower Corporation (NASDAQ:SPWR) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 15,258,527 shares, a drop of 9.5% from the July 14th total of 16,851,423 shares. Currently, 25.9% of the company’s stock are short sold. Based on an average daily trading volume, of 4,133,621 shares, the short-interest ratio is currently 3.7 days.

A number of institutional investors have recently made changes to their positions in SPWR. Asset Management One Co. Ltd. raised its position in shares of SunPower Corporation by 4.0% in the first quarter. Asset Management One Co. Ltd. now owns 48,281 shares of the semiconductor company’s stock worth $295,000 after buying an additional 1,848 shares in the last quarter. SG Americas Securities LLC raised its position in shares of SunPower Corporation by 138.5% in the first quarter. SG Americas Securities LLC now owns 192,516 shares of the semiconductor company’s stock worth $1,174,000 after buying an additional 111,809 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of SunPower Corporation by 109.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,354 shares of the semiconductor company’s stock worth $130,000 after buying an additional 11,159 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of SunPower Corporation by 38.5% in the first quarter. Parametric Portfolio Associates LLC now owns 152,635 shares of the semiconductor company’s stock worth $931,000 after buying an additional 42,426 shares in the last quarter. Finally, TFS Capital LLC bought a new position in shares of SunPower Corporation during the first quarter worth about $126,000. Hedge funds and other institutional investors own 25.61% of the company’s stock.

Shares of SunPower Corporation (SPWR) opened at 9.30 on Friday. SunPower Corporation has a one year low of $5.84 and a one year high of $11.70. The stock’s market cap is $1.30 billion. The stock has a 50 day moving average of $9.87 and a 200 day moving average of $7.90.

SunPower Corporation (NASDAQ:SPWR) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.24. The firm had revenue of $341.50 million during the quarter, compared to analyst estimates of $312.58 million. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. SunPower Corporation’s revenue was down 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) EPS. Equities analysts expect that SunPower Corporation will post ($0.98) EPS for the current fiscal year.

Several research analysts have issued reports on the stock. Cowen and Company set a $12.00 price objective on shares of SunPower Corporation and gave the stock a “buy” rating in a research report on Monday, July 10th. Zacks Investment Research raised shares of SunPower Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Vetr downgraded shares of SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price objective on the stock. in a research report on Monday, July 17th. ValuEngine raised shares of SunPower Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of SunPower Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. SunPower Corporation has an average rating of “Hold” and a consensus target price of $9.57.

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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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