SPWR has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of SunPower from a hold rating to a buy rating and set a $14.00 price target on the stock in a report on Tuesday, August 6th. Barclays reiterated a sell rating and issued a $6.00 price objective on shares of SunPower in a research note on Monday, August 5th. Vertical Group started coverage on shares of SunPower in a research note on Monday, July 22nd. They issued a sell rating on the stock. ValuEngine lowered shares of SunPower from a buy rating to a hold rating in a research note on Thursday, October 3rd. Finally, Credit Suisse Group upgraded shares of SunPower from a neutral rating to an outperform rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. SunPower currently has an average rating of Hold and a consensus target price of $8.42.
Shares of SPWR stock traded up $0.12 during trading hours on Friday, reaching $9.58. 2,119,551 shares of the stock traded hands, compared to its average volume of 3,569,614. SunPower has a 1-year low of $4.55 and a 1-year high of $16.04. The business has a fifty day moving average price of $11.95 and a 200 day moving average price of $10.33. The firm has a market capitalization of $1.35 billion, a PE ratio of -10.89 and a beta of 2.25.
SunPower (NASDAQ:SPWR) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.12). The firm had revenue of $481.90 million for the quarter, compared to analyst estimates of $444.23 million. During the same quarter in the prior year, the company earned ($0.01) EPS. SunPower’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts forecast that SunPower will post -0.67 earnings per share for the current year.
In other SunPower news, EVP Douglas J. Richards sold 60,953 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $14.14, for a total value of $861,875.42. Following the completion of the sale, the executive vice president now directly owns 30,476 shares of the company’s stock, valued at $430,930.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas H. Werner sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $13.46, for a total transaction of $1,211,400.00. Following the completion of the sale, the chief executive officer now directly owns 537,165 shares of the company’s stock, valued at $7,230,240.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,131 shares of company stock worth $2,192,674. Company insiders own 1.04% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its position in SunPower by 207.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,089 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 2,758 shares in the last quarter. National Asset Management Inc. bought a new stake in SunPower in the second quarter worth approximately $109,000. Ladenburg Thalmann Financial Services Inc. grew its position in SunPower by 10.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,157 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 1,091 shares in the last quarter. AQR Capital Management LLC bought a new stake in SunPower in the second quarter worth approximately $119,000. Finally, Enlightenment Research LLC bought a new stake in SunPower in the third quarter worth approximately $120,000. 28.72% of the stock is owned by institutional investors.
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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