SunPower Co. (NASDAQ:SPWR) was the recipient of unusually large options trading on Monday. Stock investors acquired 8,456 call options on the stock. This is an increase of 539% compared to the average volume of 1,323 call options.
Shares of NASDAQ SPWR opened at $7.47 on Wednesday. SunPower has a 52-week low of $4.55 and a 52-week high of $10.00. The firm has a market capitalization of $1.08 billion, a P/E ratio of -8.49 and a beta of 2.30. The company has a debt-to-equity ratio of 39.39, a quick ratio of 1.09 and a current ratio of 1.52.
SunPower (NASDAQ:SPWR) last released its quarterly earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.13. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The business had revenue of $525.40 million during the quarter, compared to analyst estimates of $566.06 million. During the same quarter last year, the company posted $0.25 EPS. SunPower’s revenue for the quarter was down 36.2% on a year-over-year basis. As a group, research analysts expect that SunPower will post -1.07 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of SunPower by 40.4% during the fourth quarter. Rhumbline Advisers now owns 90,729 shares of the semiconductor company’s stock valued at $451,000 after buying an additional 26,089 shares in the last quarter. Canal Insurance CO purchased a new position in SunPower during the 4th quarter valued at about $298,000. Vanguard Group Inc increased its holdings in shares of SunPower by 10.2% in the 3rd quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after purchasing an additional 580,984 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of SunPower in the 3rd quarter valued at about $301,000. Finally, MetLife Investment Advisors LLC lifted its position in shares of SunPower by 55.4% in the third quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 17,431 shares in the last quarter. Institutional investors own 27.58% of the company’s stock.
SPWR has been the subject of several recent analyst reports. Barclays started coverage on shares of SunPower in a research report on Monday, January 7th. They issued an “underweight” rating and a $4.00 target price for the company. Zacks Investment Research raised shares of SunPower from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Wednesday, January 9th. ValuEngine upgraded shares of SunPower from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. 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 report on Friday, February 15th. Finally, Credit Suisse Group cut SunPower from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $7.00 in a research report on Friday, February 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. SunPower currently has a consensus rating of “Hold” and a consensus target price of $7.04.
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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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