SunPower (NASDAQ:SPWR) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.
SPWR has been the topic of a number of other research reports. Robert W. Baird reissued a “hold” rating and set a $7.00 price objective on shares of SunPower in a report on Friday, September 1st. Zacks Investment Research raised shares of SunPower from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Monday, August 7th. Morgan Stanley cut shares of SunPower from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $7.22 to $6.00 in a report on Wednesday, September 27th. Macquarie cut shares of SunPower from an “outperform” rating to a “neutral” rating in a report on Friday, September 8th. Finally, Bank of America cut their price objective on shares of SunPower from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.34.
Shares of SunPower (NASDAQ SPWR) opened at $7.87 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02. SunPower has a 1-year low of $5.84 and a 1-year high of $11.70.
Institutional investors have recently made changes to their positions in the company. Cortland Associates Inc. MO acquired a new position in shares of SunPower in the 3rd quarter valued at $109,000. CAPROCK Group Inc. increased its holdings in shares of SunPower by 1.1% in the 2nd quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock valued at $112,000 after acquiring an additional 128 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of SunPower in the 3rd quarter valued at $112,000. HighTower Advisors LLC acquired a new position in shares of SunPower in the 2nd quarter valued at $124,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of SunPower in the 2nd quarter valued at $130,000. 25.63% of the stock is currently owned by institutional investors and hedge funds.
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SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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