SunPower (SPWR) Upgraded to Buy at ValuEngine
Other research analysts have also issued research reports about the company. BidaskClub raised SunPower from a sell rating to a hold rating in a research report on Monday, April 1st. Credit Suisse Group lowered shares of SunPower from an outperform rating to a neutral rating and cut their price target for the stock from $10.00 to $7.00 in a research note on Friday, February 15th. Barclays initiated coverage on shares of SunPower in a research note on Monday, January 7th. They set an underweight rating and a $4.00 price target on the stock. Bank of America lowered shares of SunPower from a neutral rating to an underperform rating and set a $6.00 price target on the stock. in a research note on Friday, February 15th. Finally, Zacks Investment Research upgraded shares of SunPower from a hold rating to a buy rating and set a $6.25 price target on the stock in a research note on Wednesday, January 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $6.82.
Shares of NASDAQ:SPWR traded down $0.14 on Wednesday, hitting $7.66. The stock had a trading volume of 56,005 shares, compared to its average volume of 1,741,463. SunPower has a twelve month low of $4.55 and a twelve month high of $10.00. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.09 and a current ratio of 1.52. The company has a market capitalization of $1.09 billion, a PE ratio of -8.63 and a beta of 2.30.
Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in SunPower by 40.4% in the 4th quarter. Rhumbline Advisers now owns 90,729 shares of the semiconductor company’s stock valued at $451,000 after acquiring an additional 26,089 shares during the period. Canal Insurance CO bought a new position in SunPower in the 4th quarter worth $298,000. Vanguard Group Inc raised its holdings in SunPower by 10.2% in the 3rd 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 period. MetLife Investment Advisors LLC raised its holdings in SunPower by 55.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 17,431 shares during the period. Finally, Highland Capital Management LP bought a new position in SunPower in the 3rd quarter worth $146,000. Hedge funds and other institutional investors own 27.58% of the company’s stock.
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.
See Also: What Is An Exchange-Traded Fund (ETF)?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.