SunPower Co. (SPWR) Boosted to Sell at ValuEngine

SunPower Co. (SPWR) Boosted to Sell at ValuEngine

SunPower Co. (NASDAQ:SPWR) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday.

Several other equities analysts have also recently weighed in on SPWR. Robert W. Baird restated a “neutral” rating and set a $7.00 price target on shares of SunPower in a report on Thursday, February 16th. Zacks Investment Research upgraded SunPower from a “sell” rating to a “hold” rating in a report on Tuesday, February 7th. Credit Suisse Group AG restated a “neutral” rating and set a $8.00 price target (down previously from $9.00) on shares of SunPower in a report on Thursday, February 16th. Vetr cut SunPower from a “strong-buy” rating to a “buy” rating and set a $9.59 price target for the company. in a report on Monday, February 27th. Finally, Goldman Sachs Group Inc restated a “neutral” rating on shares of SunPower in a report on Friday, February 10th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $9.13.

Shares of SunPower (NASDAQ SPWR) traded up 0.38% during midday trading on Friday, hitting $8.02. The stock had a trading volume of 1,452,826 shares. The stock’s 50 day moving average price is $7.24 and its 200 day moving average price is $7.12. The firm’s market cap is $1.12 billion. SunPower has a 12 month low of $5.84 and a 12 month high of $17.60.

SunPower (NASDAQ:SPWR) last issued its earnings results on Tuesday, May 9th. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.13. The company had revenue of $429.50 million for the quarter, compared to the consensus estimate of $388.07 million. SunPower had a positive return on equity of 16.65% and a negative net margin of 16.95%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned ($0.30) EPS. On average, equities analysts forecast that SunPower will post ($1.02) EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Merriman Wealth Management LLC acquired a new position in SunPower during the first quarter worth about $122,000. TFS Capital LLC acquired a new position in SunPower during the first quarter worth about $126,000. Raymond James Financial Services Advisors Inc. boosted its position in SunPower 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. Cipher Capital LP acquired a new position in SunPower during the fourth quarter worth about $155,000. Finally, North Star Investment Management Corp. boosted its position in SunPower 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 own 30.80% of the company’s stock.

About SunPower

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SPWR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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