Shares of SunPower Co. (NASDAQ:SPWR) were up 5.9% on Monday . The stock traded as high as $6.53 and last traded at $6.51. Approximately 2,119,485 shares traded hands during trading, an increase of 21% from the average daily volume of 1,748,061 shares. The stock had previously closed at $6.15.
Several equities analysts have recently issued reports on SPWR shares. Zacks Investment Research upgraded SunPower from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Wednesday, January 9th. ValuEngine upgraded SunPower from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. 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. BidaskClub upgraded SunPower from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 28th. Finally, Bank of America cut SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target on the stock. in a research report on Friday, February 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $7.16.
The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 39.39. The firm has a market capitalization of $885.06 million, a PE ratio of -7.42 and a beta of 2.24.
SunPower (NASDAQ:SPWR) last issued its earnings results on Wednesday, February 13th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.13. The business had revenue of $525.40 million for the quarter, compared to analysts’ expectations of $566.06 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.99%. The company’s quarterly revenue was down 36.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. Research analysts forecast that SunPower Co. will post -1.11 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc grew 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 worth $45,735,000 after acquiring an additional 580,984 shares during the last quarter. Vanguard Group Inc. grew 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 worth $45,735,000 after acquiring an additional 580,984 shares during the last quarter. Norges Bank acquired a new position in shares of SunPower in the 4th quarter worth $5,873,000. Northern Trust Corp grew its holdings in shares of SunPower by 0.4% in the 4th quarter. Northern Trust Corp now owns 760,039 shares of the semiconductor company’s stock worth $3,778,000 after acquiring an additional 3,007 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of SunPower by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 743,670 shares of the semiconductor company’s stock worth $3,696,000 after acquiring an additional 31,794 shares during the last quarter. Institutional investors and hedge funds own 27.27% of the company’s stock.
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About SunPower (NASDAQ:SPWR)
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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