SunPower (SPWR) Upgraded to “Hold” at ValuEngine

SunPower (NASDAQ:SPWR) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Thursday. Credit Suisse Group began coverage on shares of SunPower in a research note on Monday, February 12th. They issued a “neutral” rating and a $7.20 price target on the stock. Bank of America lifted their price target on shares of SunPower from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, April 18th. Oppenheimer reiterated a “market perform” rating and issued a $10.00 price target on shares of SunPower in a research note on Thursday, February 15th. Finally, UBS lowered shares of SunPower from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $9.09.

Shares of NASDAQ:SPWR traded up $0.19 during midday trading on Thursday, reaching $9.28. 2,947,700 shares of the company were exchanged, compared to its average volume of 2,661,044. SunPower has a fifty-two week low of $9.15 and a fifty-two week high of $9.41. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 2.15. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -22.63 and a beta of 2.54.

SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.13. SunPower had a negative net margin of 44.66% and a negative return on equity of 6.37%. The firm had revenue of $398.90 million for the quarter, compared to analyst estimates of $369.63 million. During the same period in the previous year, the business earned ($0.36) EPS. The company’s revenue was down 7.1% compared to the same quarter last year. research analysts expect that SunPower will post -1.99 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new position in shares of SunPower during the 1st quarter worth about $109,000. Candriam Luxembourg S.C.A. acquired a new position in shares of SunPower during the 1st quarter worth about $111,000. Cubist Systematic Strategies LLC acquired a new position in shares of SunPower during the 1st quarter worth about $139,000. Clarus Wealth Advisors acquired a new position in shares of SunPower during the 4th quarter worth about $148,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of SunPower during the 1st quarter worth about $153,000. Institutional investors own 27.08% of the company’s stock.

About SunPower

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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