SunPower (NASDAQ:SPWR) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of SunPower (NASDAQ:SPWR) in a research note issued on Saturday. The firm set a “sell” rating on the semiconductor company’s stock.

SPWR has been the subject of several other research reports. Glj Research reissued a “sell” rating and issued a $1.61 target price on shares of SunPower in a research note on Tuesday, July 16th. Citigroup cut their price objective on shares of SunPower from $2.50 to $0.25 and set a “sell” rating for the company in a research report on Friday, July 19th. Susquehanna decreased their target price on shares of SunPower from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group reduced their price target on SunPower from $2.00 to $0.50 and set a “sell” rating on the stock in a research note on Tuesday, July 23rd. Finally, Wolfe Research lowered SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 target price for the company. in a research note on Wednesday, May 15th. Twelve equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, SunPower has an average rating of “Reduce” and a consensus price target of $3.48.

SunPower Stock Performance

SunPower stock opened at $0.12 on Friday. SunPower has a fifty-two week low of $0.09 and a fifty-two week 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 stock has a fifty day moving average of $1.38 and a two-hundred day moving average of $2.37.

Hedge Funds Weigh In On SunPower

A number of hedge funds have recently made changes to their positions in SPWR. Wedmont Private Capital acquired a new stake in SunPower in the 1st quarter valued at $30,000. CIBC Asset Management Inc acquired a new stake in shares of SunPower in the second quarter valued at about $38,000. First Trust Direct Indexing L.P. purchased a new stake in shares of SunPower during the 1st quarter valued at about $46,000. New Mexico Educational Retirement Board acquired a new position in SunPower during the 1st quarter worth approximately $51,000. Finally, QRG Capital Management Inc. purchased a new position in SunPower in the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 47.36% of the company’s stock.

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.