Brokerages Set SunPower Co. (SPWR) Price Target at $8.72
SunPower Co. (NASDAQ:SPWR) has been given an average rating of “Hold” by the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.72.
A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of SunPower from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Zacks Investment Research upgraded shares of SunPower from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research report on Tuesday, October 9th. Bank of America upgraded shares of SunPower from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $7.00 to $7.50 in a research report on Wednesday, October 3rd. Credit Suisse Group upgraded shares of SunPower from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, September 19th. Finally, ValuEngine upgraded shares of SunPower from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 18th.
Shares of SPWR traded up $0.18 during mid-day trading on Wednesday, reaching $6.71. 57,639 shares of the company’s stock were exchanged, compared to its average volume of 2,219,093. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 9.81. The firm has a market cap of $1.03 billion, a PE ratio of -16.07 and a beta of 1.96. SunPower has a 52-week low of $6.36 and a 52-week high of $10.00.
In other SunPower news, EVP Kenneth Lawrence Mahaffey sold 27,964 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $7.30, for a total value of $204,137.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in SPWR. Swiss National Bank lifted its holdings in SunPower by 7.8% in the first quarter. Swiss National Bank now owns 109,400 shares of the semiconductor company’s stock valued at $873,000 after acquiring an additional 7,900 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of SunPower by 15.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 302,586 shares of the semiconductor company’s stock worth $2,415,000 after buying an additional 41,385 shares during the last quarter. Sei Investments Co. raised its stake in shares of SunPower by 320.9% during the 1st quarter. Sei Investments Co. now owns 32,873 shares of the semiconductor company’s stock worth $263,000 after buying an additional 25,062 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of SunPower during the 1st quarter worth $109,000. Finally, Guggenheim Capital LLC raised its stake in shares of SunPower by 5.0% during the 1st quarter. Guggenheim Capital LLC now owns 2,350,323 shares of the semiconductor company’s stock worth $18,756,000 after buying an additional 112,821 shares during the last quarter. 27.22% of the stock is owned by institutional investors.
SunPower Company Profile
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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