SunPower (SPWR) Stock Rating Upgraded by BidaskClub
SunPower (NASDAQ:SPWR) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
Several other equities analysts have also recently commented on the company. ValuEngine upgraded SunPower from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Macquarie cut SunPower from an “outperform” rating to a “neutral” rating in a research note on Friday, September 8th. Zacks Investment Research cut SunPower from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Cowen reiterated a “buy” rating and set a $12.00 target price on shares of SunPower in a research note on Sunday, September 17th. Finally, Robert W. Baird upgraded SunPower from a “neutral” rating to an “outperform” rating and increased their target price for the company from $7.00 to $10.00 in a research note on Monday, December 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.85.
SunPower (NASDAQ SPWR) opened at $8.90 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.71. SunPower has a one year low of $5.84 and a one year high of $11.70.
In related news, Director Catherine A. Lesjak sold 23,632 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total transaction of $177,240.00. Following the transaction, the director now directly owns 55,924 shares in the company, valued at $419,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Delta Lloyd Asset Management N.V. bought a new stake in SunPower in the second quarter valued at $2,895,000. Quentec Asset Management LLC bought a new stake in SunPower in the third quarter valued at $3,208,000. Northern Trust Corp lifted its stake in SunPower by 141.3% in the second quarter. Northern Trust Corp now owns 845,237 shares of the semiconductor company’s stock valued at $7,894,000 after buying an additional 494,979 shares during the last quarter. Vanguard Group Inc. lifted its stake in SunPower by 13.8% in the second quarter. Vanguard Group Inc. now owns 4,922,577 shares of the semiconductor company’s stock valued at $45,977,000 after buying an additional 598,221 shares during the last quarter. Finally, Nationwide Fund Advisors bought a new stake in SunPower in the second quarter valued at $317,000. Institutional investors own 25.39% of the company’s stock.
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SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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