SunPower (NASDAQ:SPWR) Stock Rating Lowered by BidaskClub

SunPower (NASDAQ:SPWR) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday, BidAskClub reports.

SPWR has been the topic of a number of other research reports. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Raymond James set a C$2.25 price target on Integra Resources and gave the stock an “outperform” rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. set a €53.00 ($61.63) price target on Kion Group and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a GBX 2,280 ($29.79) price target on shares of Anglo American in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. SunPower currently has a consensus rating of “Hold” and an average price target of $7.62.

Shares of SPWR stock traded up $0.08 during midday trading on Friday, reaching $10.99. 1,631,957 shares of the stock were exchanged, compared to its average volume of 1,955,479. SunPower has a 1 year low of $4.55 and a 1 year high of $12.79. The company has a 50 day simple moving average of $10.04. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -12.49 and a beta of 2.33.



SunPower (NASDAQ:SPWR) last posted its earnings results on Thursday, May 9th. The semiconductor company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.05. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.65%. The firm had revenue of $348.22 million for the quarter, compared to the consensus estimate of $387.93 million. During the same quarter in the prior year, the business earned ($0.20) EPS. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. Analysts predict that SunPower will post -0.59 earnings per share for the current year.

In related news, CFO Manavendra Sial sold 8,177 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $8.06, for a total value of $65,906.62. Following the sale, the chief financial officer now owns 8,178 shares in the company, valued at approximately $65,914.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick Wood III sold 33,609 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $7.89, for a total value of $265,175.01. Following the sale, the director now owns 129,083 shares in the company, valued at $1,018,464.87. The disclosure for this sale can be found here. Insiders sold a total of 74,034 shares of company stock worth $588,421 in the last 90 days. 1.04% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC boosted its stake in SunPower by 55,714.3% during the 1st quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 3,900 shares during the last quarter. Exane Derivatives boosted its stake in SunPower by 36.3% during the 1st quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 1,625 shares during the last quarter. Trust Co. of Vermont boosted its stake in SunPower by 14.0% during the 1st quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 1,400 shares during the last quarter. DAVENPORT & Co LLC purchased a new stake in SunPower during the 2nd quarter valued at $132,000. Finally, ETF Managers Group LLC boosted its stake in SunPower by 9.8% during the 1st quarter. ETF Managers Group LLC now owns 17,937 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 1,598 shares during the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

SunPower Company Profile

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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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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