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.
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.
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.
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