UBS Group lowered shares of SunPower (NASDAQ:SPWR) from an outperform rating to a market perform rating in a research report report published on Thursday morning, The Fly reports.
A number of other research firms also recently commented on SPWR. BidaskClub upgraded shares of SunPower from a hold rating to a buy rating in a report on Tuesday, December 19th. Bank of America started coverage on shares of SunPower in a report on Friday, December 22nd. They issued a neutral rating and a $10.00 target price on the stock. ValuEngine upgraded shares of SunPower from a sell rating to a hold rating in a report on Saturday, November 4th. Guggenheim restated a hold rating on shares of SunPower in a report on Thursday, January 18th. Finally, Zacks Investment Research lowered shares of SunPower from a buy rating to a hold rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $9.22.
Shares of SunPower (NASDAQ SPWR) opened at $7.64 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 1.71. SunPower has a fifty-two week low of $5.84 and a fifty-two week high of $11.70.
In other news, Director Catherine A. Lesjak sold 23,632 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total transaction of $177,240.00. Following the sale, the director now owns 55,924 shares in the company, valued at $419,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC purchased a new position in SunPower during the fourth quarter valued at approximately $885,000. MetLife Investment Advisors LLC purchased a new position in SunPower during the fourth quarter valued at approximately $265,000. Two Sigma Investments LP purchased a new position in SunPower during the fourth quarter valued at approximately $1,967,000. Two Sigma Advisers LP purchased a new position in SunPower during the fourth quarter valued at approximately $207,000. Finally, Guggenheim Capital LLC grew its position in SunPower by 26.2% during the fourth quarter. Guggenheim Capital LLC now owns 2,237,502 shares of the semiconductor company’s stock valued at $18,864,000 after purchasing an additional 464,072 shares in the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.
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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