SunPower Co. (NASDAQ:SPWR) Receives $3.48 Average Target Price from Analysts

Shares of SunPower Co. (NASDAQ:SPWR) have been assigned an average rating of “Strong Sell” from the nineteen brokerages that are covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.48.

A number of analysts recently commented on SPWR shares. The Goldman Sachs Group decreased their price objective on shares of SunPower from $2.00 to $0.50 and set a “sell” rating on the stock in a report on Tuesday, July 23rd. Susquehanna lowered their price target on SunPower from $3.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, July 15th. Scotiabank reduced their price objective on SunPower from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Monday, April 29th. Mizuho cut SunPower from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $4.00 to $0.50 in a research report on Friday, July 19th. Finally, Glj Research reissued a “sell” rating and issued a $1.61 price objective on shares of SunPower in a research note on Tuesday, July 16th.

Institutional Trading of SunPower

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of SunPower by 0.5% during the first quarter. Vanguard Group Inc. now owns 9,685,251 shares of the semiconductor company’s stock valued at $29,056,000 after acquiring an additional 44,479 shares in the last quarter. Federated Hermes Inc. grew its stake in SunPower by 193.0% during the 4th quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock valued at $8,250,000 after purchasing an additional 1,125,231 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SunPower by 33.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 371,884 shares of the semiconductor company’s stock valued at $1,101,000 after purchasing an additional 93,551 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of SunPower by 31.2% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 348,123 shares of the semiconductor company’s stock valued at $1,030,000 after buying an additional 82,861 shares during the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

SunPower Price Performance

SunPower stock opened at $0.16 on Friday. The stock’s 50 day moving average price is $1.99 and its 200 day moving average price is $2.58. The company has a market cap of $28.71 million, a PE ratio of -0.12 and a beta of 1.86. SunPower has a 1-year low of $0.15 and a 1-year high of $8.27.

SunPower Company Profile

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.