SunPower (NASDAQ:SPWR) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of SunPower (NASDAQ:SPWR) in a research report report published on Sunday. The brokerage issued a sell rating on the semiconductor company’s stock.

SPWR has been the subject of several other research reports. Glj Research restated a sell rating and issued a $1.61 price target on shares of SunPower in a report on Tuesday, July 16th. Wolfe Research lowered shares of SunPower from a peer perform rating to an underperform rating and set a $2.00 price target for the company. in a research report on Wednesday, May 15th. Mizuho downgraded shares of SunPower from a neutral rating to an underperform rating and cut their price target for the stock from $4.00 to $0.50 in a research note on Friday, July 19th. Citigroup lowered their price objective on shares of SunPower from $2.50 to $0.25 and set a sell rating for the company in a research note on Friday, July 19th. Finally, The Goldman Sachs Group cut their target price on SunPower from $2.00 to $0.50 and set a sell rating on the stock in a research report on Tuesday, July 23rd. Twelve analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Reduce and a consensus target price of $3.48.

SunPower Price Performance

SPWR stock opened at $0.12 on Friday. The stock has a market capitalization of $21.53 million, a price-to-earnings ratio of -0.09 and a beta of 1.86. SunPower has a 52-week low of $0.09 and a 52-week high of $7.77. The stock’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $2.17.

Institutional Investors Weigh In On SunPower

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in SunPower by 18.3% in the 4th quarter. Victory Capital Management Inc. now owns 44,956 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 6,957 shares during the last quarter. QRG Capital Management Inc. acquired a new position in SunPower during the 4th quarter worth $104,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of SunPower by 67.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 111,696 shares of the semiconductor company’s stock worth $503,000 after purchasing an additional 45,145 shares during the last quarter. IPG Investment Advisors LLC bought a new position in shares of SunPower during the fourth quarter worth about $483,000. Finally, Olympiad Research LP acquired a new position in SunPower in the fourth quarter worth about $479,000. 47.36% of the stock is owned by institutional investors and hedge funds.

About SunPower

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.