SunPower (NASDAQ:SPWR) PT Lowered to $2.50 at Citigroup

SunPower (NASDAQ:SPWR - Free Report) had its price objective cut by Citigroup from $3.00 to $2.50 in a research report report published on Thursday morning, Benzinga reports. They currently have a sell rating on the semiconductor company's stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of SunPower from $4.00 to $2.50 and set a sell rating on the stock in a research note on Monday, January 22nd. Raymond James downgraded shares of SunPower from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Wells Fargo & Company reissued an underweight rating and issued a $4.00 price target (down from $6.00) on shares of SunPower in a research note on Monday, January 8th. Guggenheim downgraded shares of SunPower from a neutral rating to a sell rating in a research note on Friday, February 16th. Finally, Truist Financial cut their target price on shares of SunPower from $5.00 to $3.50 and set a hold rating on the stock in a research note on Tuesday, January 23rd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, SunPower presently has a consensus rating of Hold and a consensus target price of $5.33.

SunPower Stock Performance

Shares of SPWR stock traded up $0.13 on Thursday, reaching $3.00. 6,327,854 shares of the company were exchanged, compared to its average volume of 7,603,298. The company has a market cap of $526.08 million, a price-to-earnings ratio of -2.19 and a beta of 1.74. The business has a 50-day moving average price of $3.19 and a 200 day moving average price of $4.32. SunPower has a 1 year low of $2.49 and a 1 year high of $14.92.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new stake in SunPower during the 4th quarter worth $762,000. Vanguard Group Inc. lifted its stake in shares of SunPower by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 9,640,772 shares of the semiconductor company's stock worth $46,565,000 after acquiring an additional 197,291 shares during the period. Virtu Financial LLC acquired a new stake in shares of SunPower in the 4th quarter worth $294,000. Price T Rowe Associates Inc. MD lifted its stake in shares of SunPower by 38.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 63,082 shares of the semiconductor company's stock worth $305,000 after acquiring an additional 17,650 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of SunPower by 61.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 29,306 shares of the semiconductor company's stock worth $142,000 after acquiring an additional 11,139 shares during the period. Institutional investors and hedge funds 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.