ValuEngine upgraded shares of SunPower (NASDAQ:SPWR) from a sell rating to a hold rating in a report published on Monday, February 4th.
Several other equities analysts also recently commented on SPWR. 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. Bank of America reduced their price objective on shares of SunPower from $7.50 to $7.00 and set a neutral rating on the stock in a research note on Tuesday, October 9th. BidaskClub downgraded shares of SunPower from a sell rating to a strong sell rating in a research note on Saturday, December 8th. Finally, Barclays started coverage on shares of SunPower in a report on Monday, January 7th. They issued an underweight rating and a $4.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $7.16.
Shares of SPWR opened at $6.47 on Monday. The stock has a market capitalization of $924.64 million, a PE ratio of -7.35 and a beta of 2.24. SunPower has a fifty-two week low of $4.55 and a fifty-two week 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.
SunPower (NASDAQ:SPWR) last issued its quarterly earnings data on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.13. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The company had revenue of $525.40 million for the quarter, compared to analyst estimates of $566.06 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The company’s revenue was down 36.2% on a year-over-year basis. Equities research analysts anticipate that SunPower will post -1.11 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC raised its holdings in SunPower by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 2,226 shares during the last quarter. Highland Capital Management LP bought a new position in SunPower during the 3rd quarter worth approximately $146,000. Legal & General Group Plc raised its holdings in SunPower by 11.7% during the 4th quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 2,214 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in SunPower by 483.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 24,165 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 20,024 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in SunPower by 75.1% during the 4th quarter. SG Americas Securities LLC now owns 25,935 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 11,124 shares during the last quarter. Hedge funds and other institutional investors own 27.27% 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.
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