BidaskClub Lowers SunPower (NASDAQ:SPWR) to Strong Sell

SunPower (NASDAQ:SPWR) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday, September 11th.

A number of other equities analysts also recently issued reports on SPWR. ValuEngine upgraded SunPower from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. Williams Capital lifted their price target on SunPower from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 24th. Credit Suisse Group cut their target price on SunPower from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, June 7th. JPMorgan Chase & Co. cut their target price on SunPower from $9.50 to $8.50 and set a “neutral” rating on the stock in a research note on Thursday, June 7th. Finally, Robert W. Baird downgraded SunPower from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $7.00 in a research note on Monday, June 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. SunPower currently has an average rating of “Hold” and an average target price of $8.94.

SunPower stock traded down $0.20 during midday trading on Tuesday, reaching $6.83. The stock had a trading volume of 2,070,806 shares, compared to its average volume of 2,231,352. SunPower has a 12 month low of $6.36 and a 12 month high of $10.00. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -16.66 and a beta of 1.96. The company has a debt-to-equity ratio of 9.81, a current ratio of 1.75 and a quick ratio of 1.22.

SunPower (NASDAQ:SPWR) last released its quarterly earnings results on Monday, July 30th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.28. The business had revenue of $449.09 million during the quarter, compared to the consensus estimate of $389.86 million. SunPower had a positive return on equity of 1.37% and a negative net margin of 60.01%. The company’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. On average, sell-side analysts expect that SunPower will post -1.55 EPS for the current year.

In related news, EVP Kenneth Lawrence Mahaffey sold 27,964 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $7.30, for a total value of $204,137.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC bought a new stake in SunPower during the 1st quarter valued at $109,000. Candriam Luxembourg S.C.A. bought a new stake in SunPower during the 1st quarter valued at $111,000. Cubist Systematic Strategies LLC bought a new stake in SunPower during the 1st quarter valued at $139,000. Suntrust Banks Inc. bought a new stake in SunPower during the 1st quarter valued at $145,000. Finally, Timber Hill LLC bought a new stake in SunPower during the 2nd quarter valued at $148,000. 27.22% of the stock is currently owned by institutional investors and hedge funds.

About SunPower

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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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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