SunPower Co. (NASDAQ:SPWR) Receives $4.72 Average PT from Brokerages

SunPower Co. (NASDAQ:SPWR) has been given an average recommendation of “Reduce” by the nineteen analysts that are currently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $4.72.

A number of analysts have recently commented on SPWR shares. Guggenheim cut SunPower from a “neutral” rating to a “sell” rating in a research report on Friday, February 16th. UBS Group boosted their price objective on shares of SunPower from $4.00 to $4.25 and gave the stock a “neutral” rating in a report on Friday, February 16th. Susquehanna decreased their price objective on shares of SunPower from $4.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, April 5th. Truist Financial decreased their price objective on shares of SunPower from $5.00 to $3.50 and set a “hold” rating for the company in a report on Tuesday, January 23rd. Finally, Mizuho decreased their price objective on shares of SunPower from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Friday, April 19th.

SunPower Stock Up 7.3 %

Shares of SPWR opened at $2.34 on Friday. The business’s 50 day moving average price is $2.65 and its 200-day moving average price is $3.60. SunPower has a 52 week low of $1.76 and a 52 week high of $12.18. The stock has a market cap of $410.34 million, a P/E ratio of -1.71 and a beta of 1.80.

SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.24). SunPower had a negative return on equity of 40.95% and a negative net margin of 14.15%. The company had revenue of $356.91 million during the quarter, compared to the consensus estimate of $364.58 million. On average, equities analysts anticipate that SunPower will post -0.74 EPS for the current year.

Institutional Investors Weigh In On SunPower

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its stake in shares of SunPower by 53.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,296 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 2,537 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of SunPower by 20.0% in the 3rd quarter. Brown Advisory Inc. now owns 18,014 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 3,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of SunPower by 39.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,106 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 3,400 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in shares of SunPower by 35.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 15,762 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 4,118 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of SunPower by 383.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 4,255 shares in the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

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.