SunPower Target of Unusually High Options Trading (NASDAQ:SPWR)

SunPower Co. (NASDAQ:SPWR - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors acquired 24,883 call options on the company. This is an increase of 19% compared to the typical daily volume of 20,917 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Schroder Investment Management Group grew its holdings in SunPower by 18.8% in the 3rd quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company's stock worth $49,867,000 after buying an additional 1,279,226 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of SunPower by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company's stock valued at $58,266,000 after purchasing an additional 145,367 shares during the period. Federated Hermes Inc. raised its stake in shares of SunPower by 193.0% during the fourth quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company's stock valued at $8,250,000 after purchasing an additional 1,125,231 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in SunPower by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 61,647 shares of the semiconductor company's stock worth $300,000 after purchasing an additional 4,585 shares during the period. Finally, Barclays PLC grew its position in SunPower by 9.8% in the 3rd quarter. Barclays PLC now owns 52,243 shares of the semiconductor company's stock valued at $322,000 after buying an additional 4,671 shares in the last quarter. Institutional investors own 47.36% of the company's stock.

SunPower Price Performance

NASDAQ:SPWR traded up $0.45 during midday trading on Monday, reaching $2.75. 20,778,892 shares of the company traded hands, compared to its average volume of 6,783,089. The firm has a market capitalization of $482.24 million, a price-to-earnings ratio of -2.01 and a beta of 1.80. The company has a fifty day moving average price of $2.55 and a 200 day moving average price of $3.50. SunPower has a twelve month low of $1.76 and a twelve month high of $12.18.

SunPower (NASDAQ:SPWR - Get Free Report) last announced 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). SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. The firm had revenue of $356.91 million for the quarter, compared to analyst estimates of $364.58 million. On average, equities research analysts forecast that SunPower will post -0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPWR. The Goldman Sachs Group decreased their price target on shares of SunPower from $4.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, January 22nd. Citigroup reduced their price target on SunPower from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Thursday, March 28th. Susquehanna lowered their price objective on shares of SunPower from $4.50 to $3.00 and set a "neutral" rating for the company in a research report on Friday, April 5th. Mizuho decreased their target price on shares of SunPower from $5.00 to $4.00 and set a "neutral" rating for the company in a research note on Friday, April 19th. Finally, Evercore ISI downgraded shares of SunPower from an "outperform" rating to an "inline" rating and set a $6.00 price target on the stock. in a research note on Tuesday, April 23rd. Ten analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.72.

About SunPower

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.