SunPower Corporation (NASDAQ:SPWR) dropped 9.9% during mid-day trading on Tuesday . The company traded as low as $7.07 and last traded at $7.09. Approximately 7,171,100 shares changed hands during mid-day trading, an increase of 130% from the average daily volume of 3,117,755 shares. The stock had previously closed at $7.87.

SPWR has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of SunPower from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, August 7th. Cowen set a $12.00 price target on shares of SunPower and gave the stock a “buy” rating in a research note on Friday, August 11th. Robert W. Baird restated a “hold” rating and set a $7.00 price target on shares of SunPower in a research note on Friday, September 1st. ValuEngine upgraded shares of SunPower from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Macquarie lowered shares of SunPower from an “outperform” rating to a “neutral” rating in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.34.

The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.60. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The company had revenue of $477.20 million for the quarter, compared to analyst estimates of $383.76 million. During the same quarter in the prior year, the business posted $0.68 EPS. SunPower’s quarterly revenue was down 34.6% on a year-over-year basis. analysts expect that SunPower Corporation will post -0.77 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Delta Lloyd Asset Management N.V. acquired a new position in SunPower in the 2nd quarter valued at $2,895,000. Northern Trust Corp grew 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 valued at $7,894,000 after buying an additional 494,979 shares during the last quarter. Vanguard Group Inc. grew 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 valued at $45,977,000 after buying an additional 598,221 shares during the last quarter. Nationwide Fund Advisors acquired a new position in SunPower in the 2nd quarter valued at $317,000. Finally, Schwab Charles Investment Management Inc. grew its stake in SunPower by 134.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 237,071 shares of the semiconductor company’s stock valued at $2,215,000 after buying an additional 135,809 shares during the last quarter. Institutional investors and hedge funds own 25.64% 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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