SunPower (SPWR) Upgraded by BidaskClub to “Sell”
SunPower (NASDAQ:SPWR) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday.
Several other brokerages have also weighed in on SPWR. Bank of America assumed coverage on shares of SunPower in a research report on Friday, December 22nd. They set a “neutral” rating and a $10.00 target price on the stock. Guggenheim restated a “hold” rating on shares of SunPower in a research report on Thursday, January 18th. Zacks Investment Research lowered shares of SunPower from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Robert W. Baird upgraded shares of SunPower from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $7.00 to $10.00 in a research report on Monday, December 11th. Finally, ValuEngine lowered shares of SunPower from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.11.
Shares of SPWR stock opened at $7.76 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 5.05. SunPower has a 12-month low of $5.90 and a 12-month high of $11.70.
Large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in shares of SunPower in the third quarter worth about $112,000. Clarus Wealth Advisors bought a new position in shares of SunPower in the fourth quarter worth about $148,000. MUFG Securities EMEA plc bought a new position in shares of SunPower in the fourth quarter worth about $163,000. Teacher Retirement System of Texas bought a new position in shares of SunPower in the fourth quarter worth about $184,000. Finally, Legal & General Group Plc raised its stake in shares of SunPower by 44.1% in the third quarter. Legal & General Group Plc now owns 26,295 shares of the semiconductor company’s stock worth $192,000 after acquiring an additional 8,050 shares during the last quarter. Hedge funds and other institutional investors own 27.21% of the company’s stock.
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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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