SunPower Co. (NASDAQ:SPWR - Get Free Report) shares saw an uptick in trading volume on Monday . 12,691,942 shares were traded during mid-day trading, an increase of 90% from the previous session's volume of 6,687,977 shares.The stock last traded at $2.88 and had previously closed at $2.30.
Wall Street Analyst Weigh In
SPWR has been the subject of several research analyst reports. Susquehanna cut their target price on shares of SunPower from $4.50 to $3.00 and set a "neutral" rating for the company in a research note on Friday, April 5th. Scotiabank reduced their target price on shares of SunPower from $6.00 to $4.00 and set a "sector perform" rating for the company in a research note on Monday, April 29th. Guggenheim lowered SunPower from a "neutral" rating to a "sell" rating in a research note on Friday, February 16th. UBS Group raised their price objective on SunPower from $4.00 to $4.25 and gave the stock a "neutral" rating in a research report on Friday, February 16th. Finally, Citigroup decreased their price objective on SunPower from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Thursday, March 28th. Ten investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $4.72.
Check Out Our Latest Analysis on SunPower
SunPower Stock Up 19.6 %
The company's fifty day moving average is $2.56 and its two-hundred day moving average is $3.51. The firm has a market capitalization of $482.24 million, a price-to-earnings ratio of -2.01 and a beta of 1.80.
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). SunPower had a negative net margin of 14.15% and a negative return on equity of 40.95%. The company had revenue of $356.91 million during the quarter, compared to analyst estimates of $364.58 million. On average, equities research analysts expect that SunPower Co. will post -0.74 EPS for the current year.
Hedge Funds Weigh In On SunPower
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in SunPower by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 9,685,251 shares of the semiconductor company's stock worth $29,056,000 after acquiring an additional 44,479 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of SunPower by 18.8% during the third quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company's stock worth $49,867,000 after purchasing an additional 1,279,226 shares in the last quarter. Invesco Ltd. grew its holdings in shares of SunPower by 12.7% in the 3rd quarter. Invesco Ltd. now owns 4,726,404 shares of the semiconductor company's stock valued at $29,162,000 after buying an additional 531,800 shares during the period. Federated Hermes Inc. increased its position in shares of SunPower by 193.0% in the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company's stock valued at $8,250,000 after buying an additional 1,125,231 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in SunPower by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,079 shares of the semiconductor company's stock worth $4,202,000 after buying an additional 33,270 shares during the period. 47.36% of the stock is currently owned by institutional investors and hedge funds.
SunPower Company Profile
(
Get Free Report)
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.
Further Reading
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