SunPower Co. (NASDAQ:SPWR) Given Consensus Rating of “Reduce” by Analysts

Shares of SunPower Co. (NASDAQ:SPWR) have earned an average rating of “Reduce” from the twenty analysts that are presently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.56.

SPWR has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on shares of SunPower from $2.25 to $2.00 and set a “sell” rating on the stock in a research report on Wednesday, June 5th. Mizuho lowered their price target on shares of SunPower from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Wolfe Research cut SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 price objective for the company. in a report on Wednesday, May 15th. Citigroup lowered their target price on SunPower from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Thursday, March 28th. Finally, Scotiabank reduced their price target on SunPower from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Monday, April 29th.

SunPower Trading Up 2.2 %

SPWR opened at $2.78 on Friday. The stock’s fifty day simple moving average is $2.73 and its 200 day simple moving average is $3.28. SunPower has a 1-year low of $1.76 and a 1-year high of $12.18. The stock has a market cap of $487.50 million, a PE ratio of -2.03 and a beta of 1.99.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of SunPower by 9.8% during the 3rd quarter. Barclays PLC now owns 52,243 shares of the semiconductor company’s stock worth $322,000 after buying an additional 4,671 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SunPower by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,079 shares of the semiconductor company’s stock valued at $4,202,000 after purchasing an additional 33,270 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in SunPower during the 3rd quarter worth approximately $76,000. Invesco Ltd. lifted its stake in SunPower by 12.7% in the 3rd quarter. Invesco Ltd. now owns 4,726,404 shares of the semiconductor company’s stock valued at $29,162,000 after purchasing an additional 531,800 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in SunPower by 10.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 267,347 shares of the semiconductor company’s stock valued at $1,650,000 after buying an additional 26,148 shares in the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.

About SunPower

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.