Shares of SunPower Co. (NASDAQ:SPWR) were up 5.9% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $6.59 and last traded at $6.29. Approximately 5,413,894 shares changed hands during mid-day trading, an increase of 220% from the average daily volume of 1,689,434 shares. The stock had previously closed at $5.94.

The semiconductor company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.13. SunPower had a negative net margin of 46.99% and a negative return on equity of 50.17%. The firm had revenue of $525.40 million during the quarter, compared to the consensus estimate of $566.06 million. During the same period last year, the firm earned $0.25 EPS. The business’s quarterly revenue was down 36.2% compared to the same quarter last year.

A number of analysts have recently issued reports on SPWR shares. Zacks Investment Research raised shares of SunPower from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Wednesday, January 9th. ValuEngine raised shares of SunPower from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Credit Suisse Group downgraded shares of SunPower from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $7.00 in a report on Friday. BidaskClub raised shares of SunPower from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 28th. Finally, Bank of America downgraded shares of SunPower from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $6.00 to $4.00 in a report on Friday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.91.

In other news, insider Vidul Prakash sold 24,826 shares of SunPower stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $6.88, for a total transaction of $170,802.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 26,470 shares of company stock valued at $179,122 over the last ninety days. 0.88% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SPWR. Vanguard Group Inc lifted its stake in SunPower by 10.2% in the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after purchasing an additional 580,984 shares during the last quarter. Vanguard Group Inc. lifted its stake in SunPower by 10.2% in the third quarter. Vanguard Group Inc. now owns 6,265,071 shares of the semiconductor company’s stock worth $45,735,000 after purchasing an additional 580,984 shares during the last quarter. Rock Point Advisors LLC lifted its stake in SunPower by 46.7% in the third quarter. Rock Point Advisors LLC now owns 596,940 shares of the semiconductor company’s stock worth $4,358,000 after purchasing an additional 189,990 shares during the last quarter. Millennium Management LLC bought a new stake in SunPower in the second quarter worth $1,329,000. Finally, Baker Avenue Asset Management LP lifted its stake in SunPower by 73.4% in the third quarter. Baker Avenue Asset Management LP now owns 219,919 shares of the semiconductor company’s stock worth $1,605,000 after purchasing an additional 93,098 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.17 and a current ratio of 1.70. The company has a market capitalization of $838.04 million, a price-to-earnings ratio of -6.73 and a beta of 2.24.

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About SunPower (NASDAQ:SPWR)

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

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