7. AFFORDABLE AND CLEAN ENERGY

SunPower (NASDAQ:SPWR) Trading Up 12.1% – Defense World

Written by Amanda

Shares of SunPower Co. (NASDAQ:SPWRGet Rating) were up 12.1% during trading on Friday . The company traded as high as $18.12 and last traded at $18.02. Approximately 202,074 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,382,798 shares. The stock had previously closed at $16.07.

A number of analysts have commented on SPWR shares. Bank of America upgraded shares of SunPower from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $13.00 to $23.00 in a report on Monday, April 4th. Robert W. Baird increased their price objective on shares of SunPower from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, April 1st. The Goldman Sachs Group increased their price objective on shares of SunPower from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, April 4th. Piper Sandler increased their price objective on shares of SunPower from $20.00 to $24.00 in a report on Thursday, April 21st. Finally, Raymond James increased their price objective on shares of SunPower from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, April 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.50.

The company’s fifty day moving average is $17.79 and its two-hundred day moving average is $19.04. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -116.66 and a beta of 2.05.

SunPower (NASDAQ:SPWRGet Rating) last posted its earnings results on Thursday, May 5th. The semiconductor company reported ($0.01) earnings per share for the quarter. SunPower had a negative net margin of 1.23% and a negative return on equity of 3.50%. The company had revenue of $350.28 million during the quarter, compared to analyst estimates of $317.56 million. During the same quarter last year, the business posted $0.03 EPS. The firm’s revenue for the quarter was up 45.9% on a year-over-year basis. Analysts forecast that SunPower Co. will post 0.24 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Huntington National Bank purchased a new position in SunPower in the 1st quarter valued at approximately $32,000. Banque Cantonale Vaudoise boosted its position in SunPower by 140.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 1,500 shares during the period. US Bancorp DE boosted its position in SunPower by 205.7% in the 1st quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 2,763 shares during the period. Guinness Atkinson Asset Management Inc boosted its position in SunPower by 26.5% in the 4th quarter. Guinness Atkinson Asset Management Inc now owns 4,300 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 900 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in SunPower by 66.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock valued at $96,000 after buying an additional 1,792 shares during the period. 36.61% of the stock is owned by institutional investors.

About SunPower (NASDAQ:SPWR)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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Source: defenseworld.net

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai