SunPower (NASDAQ:SPWR – Get Rating) was downgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a note issued to investors on Monday, The Fly reports.
A number of other equities research analysts also recently issued reports on SPWR. Raymond James lifted their price target on shares of SunPower from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, April 5th. Cowen raised their price objective on shares of SunPower from $18.00 to $20.00 in a research note on Friday, April 1st. Robert W. Baird raised their price objective on shares of SunPower from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, April 1st. Piper Sandler raised their price objective on shares of SunPower from $20.00 to $24.00 in a research note on Thursday, April 21st. Finally, Bank of America raised shares of SunPower from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $13.00 to $23.00 in a research note on Monday, April 4th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, SunPower presently has a consensus rating of “Hold” and a consensus target price of $22.50.
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NASDAQ:SPWR traded up $1.86 during trading hours on Monday, hitting $17.93. The company’s stock had a trading volume of 279,332 shares, compared to its average volume of 3,498,039. The stock has a market capitalization of $3.12 billion, a P/E ratio of -119.53 and a beta of 2.05. The stock has a fifty day moving average of $17.64 and a 200-day moving average of $18.81. SunPower has a 52-week low of $12.78 and a 52-week high of $34.61.
SunPower (NASDAQ:SPWR – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $350.28 million for the quarter, compared to analysts’ expectations of $317.56 million. SunPower had a negative return on equity of 3.50% and a negative net margin of 1.23%. The business’s revenue for the quarter was up 45.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. As a group, analysts predict that SunPower will post 0.23 earnings per share for the current year.
Several large investors have recently bought and sold shares of SPWR. Huntington National Bank acquired a new position in SunPower in the 1st quarter worth $32,000. Banque Cantonale Vaudoise lifted its holdings in SunPower by 140.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock worth $54,000 after buying an additional 1,500 shares in the last quarter. US Bancorp DE lifted its holdings in SunPower by 205.7% in the 1st quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after buying an additional 2,763 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its holdings 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 worth $90,000 after buying an additional 900 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings 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 worth $96,000 after buying an additional 1,792 shares in the last quarter. Institutional investors and hedge funds own 36.61% of the company’s stock.
About SunPower (Get Rating)
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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