Weekly Research Analysts’ Ratings Updates for SunPower (SPWR)

Several analysts have recently updated their ratings and price targets for SunPower (NASDAQ: SPWR):

• 7/23/2024 – SunPower had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $2.00 to $0.50. They now have a “sell” rating on the stock.
• 7/19/2024 – SunPower was downgraded by analysts at Mizuho from a “neutral” rating to an “underperform” rating. They now have a $0.50 price target on the stock, down previously from $4.00.
• 7/19/2024 – SunPower had its price target lowered by analysts at Citigroup Inc. from $2.50 to $0.25. They now have a “sell” rating on the stock.
• 7/16/2024 – SunPower had its “sell” rating reaffirmed by analysts at Glj Research. They now have a $1.61 price target on the stock.
• 7/15/2024 – SunPower had its price target lowered by analysts at Susquehanna from $3.00 to $2.50. They now have a “neutral” rating on the stock.
• 6/5/2024 – SunPower had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $2.25 to $2.00. They now have a “sell” rating on the stock.

SunPower Stock Performance

SunPower stock traded up $0.01 during midday trading on Monday, reaching $0.85. 5,053,548 shares of the company were exchanged, compared to its average volume of 11,987,126. The company has a market capitalization of $149.77 million, a price-to-earnings ratio of -0.62 and a beta of 1.86. The firm’s 50-day simple moving average is $2.59 and its 200-day simple moving average is $2.81. SunPower Co. has a 1 year low of $0.50 and a 1 year high of $10.30.

Institutional Trading of SunPower

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPWR. SG Americas Securities LLC increased its position in SunPower by 530.1% during the 2nd quarter. SG Americas Securities LLC now owns 1,646,592 shares of the semiconductor company’s stock worth $4,874,000 after purchasing an additional 1,385,270 shares in the last quarter. Federated Hermes Inc. boosted its stake in SunPower by 193.0% in the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock worth $8,250,000 after buying an additional 1,125,231 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in SunPower in the 1st quarter worth about $932,000. Quadrature Capital Ltd boosted its stake in SunPower by 117.7% in the 1st quarter. Quadrature Capital Ltd now owns 343,628 shares of the semiconductor company’s stock worth $1,034,000 after buying an additional 185,761 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in SunPower by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock worth $58,266,000 after buying an additional 145,367 shares during the last quarter. Hedge funds and other institutional investors own 47.36% of the company’s stock.

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.