SunPower (NASDAQ:SPWR) Now Covered by StockNews.com

Analysts at StockNews.com assumed coverage on shares of SunPower (NASDAQ:SPWR) in a research report issued to clients and investors on Tuesday. The firm set a “sell” rating on the semiconductor company’s stock.

A number of other research firms also recently commented on SPWR. Susquehanna lowered their target price on SunPower from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group lowered their target price on SunPower from $2.00 to $0.50 and set a “sell” rating for the company in a research report on Tuesday, July 23rd. Mizuho downgraded SunPower from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $4.00 to $0.50 in a research report on Friday, July 19th. Citigroup decreased their price target on SunPower from $2.50 to $0.25 and set a “sell” rating on the stock in a report on Friday, July 19th. Finally, Glj Research restated a “sell” rating and set a $1.61 price target on shares of SunPower in a report on Tuesday, July 16th. Twelve investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $3.48.

SunPower Price Performance

SPWR stock opened at $0.12 on Tuesday. SunPower has a 1-year low of $0.09 and a 1-year high of $7.77. The company has a market capitalization of $21.53 million, a price-to-earnings ratio of -0.09 and a beta of 1.86. The business has a 50 day simple moving average of $0.49 and a two-hundred day simple moving average of $1.95.

Institutional Investors Weigh In On SunPower

Large investors have recently bought and sold shares of the stock. 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 period. Quantbot Technologies LP increased its holdings in SunPower by 16.4% during the 1st quarter. Quantbot Technologies LP now owns 124,096 shares of the semiconductor company’s stock worth $372,000 after purchasing an additional 17,464 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in SunPower during the 1st quarter worth about $932,000. Inspire Investing LLC increased its holdings in SunPower by 50.8% during the 1st quarter. Inspire Investing LLC now owns 119,449 shares of the semiconductor company’s stock worth $358,000 after purchasing an additional 40,223 shares during the period. Finally, Wedmont Private Capital purchased a new stake in SunPower during the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

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.