SunPower Co. (NASDAQ:SPWR) Receives $4.72 Consensus Target Price from Analysts

SunPower Co. (NASDAQ:SPWR) has received an average rating of “Reduce” from the nineteen research firms that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.72.

A number of research firms recently weighed in on SPWR. Citigroup decreased their price target on SunPower from $3.00 to $2.50 and set a “sell” rating for the company in a research report on Thursday, March 28th. Truist Financial dropped their target price on shares of SunPower from $5.00 to $3.50 and set a “hold” rating on the stock in a research report on Tuesday, January 23rd. Guggenheim lowered shares of SunPower from a “neutral” rating to a “sell” rating in a report on Friday, February 16th. UBS Group raised their price objective on shares of SunPower from $4.00 to $4.25 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, Susquehanna cut their target price on shares of SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, April 5th.

SunPower Price Performance

NASDAQ SPWR opened at $2.37 on Friday. The company has a market capitalization of $415.61 million, a P/E ratio of -1.73 and a beta of 1.80. SunPower has a 12 month low of $1.76 and a 12 month high of $12.18. The company’s 50 day simple moving average is $2.58 and its 200 day simple moving average is $3.54.

SunPower (NASDAQ:SPWR) last posted its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.24). The company had revenue of $356.91 million during the quarter, compared to the consensus estimate of $364.58 million. SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. On average, analysts anticipate that SunPower will post -0.74 earnings per share for the current year.

Institutional Trading of SunPower

Several large investors have recently made changes to their positions in SPWR. Vanguard Group Inc. raised its stake in shares of SunPower by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock valued at $58,266,000 after acquiring an additional 145,367 shares in the last quarter. Schroder Investment Management Group raised its position in shares of SunPower by 18.8% in the third quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company’s stock valued at $49,867,000 after purchasing an additional 1,279,226 shares during the period. Invesco Ltd. lifted its stake in shares of SunPower by 12.7% in the third quarter. Invesco Ltd. now owns 4,726,404 shares of the semiconductor company’s stock worth $29,162,000 after buying an additional 531,800 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of SunPower by 193.0% during the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock worth $8,250,000 after buying an additional 1,125,231 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in SunPower by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,079 shares of the semiconductor company’s stock valued at $4,202,000 after buying an additional 33,270 shares during the last quarter. Institutional investors own 47.36% of the company’s stock.

SunPower Company Profile

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.