Wedmont Private Capital Invests $30,000 in SunPower Co. (NASDAQ:SPWR)

Wedmont Private Capital bought a new stake in SunPower Co. (NASDAQ:SPWR) during the first quarter, HoldingsChannel.com reports. The fund bought 10,919 shares of the semiconductor company’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPWR. Quadrature Capital Ltd bought a new position in shares of SunPower during the 4th quarter worth approximately $762,000. Virtu Financial LLC bought a new position in SunPower in the fourth quarter valued at $294,000. Olympiad Research LP acquired a new stake in SunPower in the 4th quarter valued at $479,000. IPG Investment Advisors LLC bought a new stake in SunPower during the 4th quarter worth about $483,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SunPower by 67.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 111,696 shares of the semiconductor company’s stock worth $503,000 after buying an additional 45,145 shares during the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

SunPower Trading Up 2.2 %

Shares of NASDAQ SPWR opened at $2.78 on Monday. The business’s 50 day moving average is $2.73 and its 200-day moving average is $3.25. SunPower Co. has a 1-year low of $1.76 and a 1-year high of $12.18.

Analyst Upgrades and Downgrades

SPWR has been the topic of a number of recent research reports. Evercore ISI downgraded SunPower from an “outperform” rating to an “inline” rating and set a $6.00 target price on the stock. in a research report on Tuesday, April 23rd. Scotiabank decreased 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. Wolfe Research cut SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, May 15th. Citigroup cut their price objective on SunPower from $3.00 to $2.50 and set a “sell” rating for the company in a report on Thursday, March 28th. Finally, Mizuho lowered their target price 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. Eleven investment analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $4.56.

SunPower 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.