SunPower (SPWR) Downgraded by BidaskClub to “Hold”
BidaskClub cut shares of SunPower (NASDAQ:SPWR) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
A number of other brokerages have also recently commented on SPWR. Robert W. Baird upgraded shares of SunPower from a neutral rating to an outperform rating and boosted their target price for the company from $7.00 to $10.00 in a report on Monday, December 11th. Bank of America dropped their target price on shares of SunPower from $12.00 to $10.00 and set a neutral rating on the stock in a report on Tuesday, September 26th. Morgan Stanley cut shares of SunPower from an equal weight rating to an underweight rating and dropped their target price for the company from $7.22 to $6.00 in a report on Wednesday, September 27th. Zacks Investment Research cut shares of SunPower from a buy rating to a hold rating in a report on Tuesday, October 3rd. Finally, Macquarie cut shares of SunPower from an outperform rating to a neutral rating in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $9.85.
Shares of SunPower (NASDAQ:SPWR) opened at $8.43 on Wednesday. SunPower has a fifty-two week low of $5.84 and a fifty-two week high of $11.70. The company has a market cap of $1,211.48, a price-to-earnings ratio of -2.10 and a beta of 3.14. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.71.
In related news, Director Catherine A. Lesjak sold 23,632 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total value of $177,240.00. Following the transaction, the director now owns 55,924 shares in the company, valued at approximately $419,430. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SPWR. Vanguard Group Inc. boosted its stake in SunPower by 13.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock worth $45,977,000 after purchasing an additional 598,221 shares in the last quarter. Northern Trust Corp boosted its stake in SunPower by 141.3% in the 2nd quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock worth $7,894,000 after purchasing an additional 494,979 shares in the last quarter. Quentec Asset Management LLC bought a new position in SunPower in the 3rd quarter worth about $3,208,000. Impax Asset Management LTD lifted its stake in SunPower by 13.6% during the 3rd quarter. Impax Asset Management LTD now owns 3,077,896 shares of the semiconductor company’s stock valued at $22,438,000 after acquiring an additional 367,582 shares during the period. Finally, Delta Lloyd Asset Management N.V. bought a new position in SunPower during the 2nd quarter valued at about $2,895,000. Institutional investors own 25.39% of the company’s stock.
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SunPower 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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