Several other brokerages also recently commented on SPWR. Bank of America downgraded SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 target price for the company. in a research note on Friday, February 15th. Credit Suisse Group downgraded SunPower from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $7.00 in a research note on Friday, February 15th. ValuEngine raised SunPower from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Barclays began coverage on SunPower in a research note on Monday, January 7th. They issued an “underweight” rating and a $4.00 price objective for the company. Finally, Zacks Investment Research upgraded SunPower from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. SunPower currently has a consensus rating of “Hold” and an average target price of $6.82.
SPWR traded down $0.13 during trading on Thursday, reaching $7.59. 1,203,761 shares of the stock were exchanged, compared to its average volume of 1,737,460. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39. SunPower has a twelve month low of $4.55 and a twelve month high of $10.00. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -8.63 and a beta of 2.30.
SunPower (NASDAQ:SPWR) last announced its earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.13. SunPower had a negative net margin of 46.99% and a negative return on equity of 83.67%. The company had revenue of $525.40 million during the quarter, compared to analysts’ expectations of $566.06 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. SunPower’s quarterly revenue was down 36.2% on a year-over-year basis. As a group, research analysts forecast that SunPower will post -0.89 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. ETF Managers Group LLC raised its position in SunPower by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 2,226 shares during the last quarter. Highland Capital Management LP purchased a new stake in shares of SunPower during the 3rd quarter valued at $146,000. Legal & General Group Plc increased its position in shares of SunPower by 11.7% during the 4th quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 2,214 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of SunPower by 483.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 24,165 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 20,024 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of SunPower by 75.1% during the 4th quarter. SG Americas Securities LLC now owns 25,935 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 11,124 shares during the last quarter. Institutional investors own 27.58% of the company’s stock.
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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