Shares of SunPower Corporation (NASDAQ:SPWR) have been assigned an average rating of “Hold” from the twenty-three brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $9.20.
A number of equities research analysts have issued reports on SPWR shares. Cowen and Company set a $12.00 price target on SunPower Corporation and gave the company a “buy” rating in a research report on Monday, July 10th. BidaskClub raised SunPower Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Vetr downgraded SunPower Corporation from a “strong-buy” rating to a “buy” rating and set a $11.45 price target for the company. in a research report on Monday, July 17th. Axiom Securities reaffirmed a “buy” rating on shares of SunPower Corporation in a research report on Saturday, July 22nd. Finally, Zacks Investment Research raised SunPower Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 18th.
SunPower Corporation (NASDAQ SPWR) traded up 2.90% during mid-day trading on Monday, hitting $11.35. The company had a trading volume of 5,377,704 shares. The company’s market capitalization is $1.58 billion. SunPower Corporation has a 52-week low of $5.84 and a 52-week high of $15.61. The company has a 50-day moving average price of $9.37 and a 200 day moving average price of $7.73.
SunPower Corporation (NASDAQ:SPWR) last posted its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.13. SunPower Corporation had a negative return on equity of 10.47% and a negative net margin of 20.21%. The firm had revenue of $429.50 million during the quarter, compared to the consensus estimate of $388.07 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts forecast that SunPower Corporation will post ($1.08) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. CAPROCK Group Inc. boosted its stake in shares of SunPower Corporation by 1.1% in the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock worth $112,000 after buying an additional 128 shares during the last quarter. Merriman Wealth Management LLC bought a new stake in shares of SunPower Corporation during the first quarter worth $122,000. TFS Capital LLC bought a new stake in shares of SunPower Corporation during the first quarter worth $126,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of SunPower Corporation by 109.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,354 shares of the semiconductor company’s stock worth $130,000 after buying an additional 11,159 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of SunPower Corporation by 70.2% in the first quarter. North Star Investment Management Corp. now owns 26,600 shares of the semiconductor company’s stock worth $162,000 after buying an additional 10,973 shares during the last quarter. Institutional investors and hedge funds own 25.51% of the company’s stock.
SunPower Corporation 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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