Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in SunPower Co. (NASDAQ:SPWR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SunPower Co. (NASDAQ:SPWR) by 33.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 371,884 shares of the semiconductor company’s stock after acquiring an additional 93,551 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SunPower were worth $1,101,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPWR. SG Americas Securities LLC increased its stake in shares of SunPower by 530.1% during the second 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 in the last quarter. Quantbot Technologies LP increased its stake 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 buying an additional 17,464 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of SunPower during the first quarter valued at approximately $932,000. Inspire Investing LLC lifted its position in shares of SunPower by 50.8% in the first quarter. Inspire Investing LLC now owns 119,449 shares of the semiconductor company’s stock valued at $358,000 after acquiring an additional 40,223 shares in the last quarter. Finally, Wedmont Private Capital acquired a new stake in shares of SunPower in the first quarter worth approximately $30,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.

SunPower Stock Performance

Shares of SPWR opened at $0.12 on Wednesday. The company’s 50-day moving average price is $1.28 and its 200 day moving average price is $2.33. SunPower Co. has a 12-month low of $0.09 and a 12-month high of $7.77. The firm has a market cap of $21.53 million, a P/E ratio of -0.09 and a beta of 1.86.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPWR. Wolfe Research downgraded SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 price objective for the company. in a research note on Wednesday, May 15th. Citigroup reduced their target price 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. The Goldman Sachs Group lowered their price target on shares of SunPower from $2.00 to $0.50 and set a “sell” rating on the stock in a research report on Tuesday, July 23rd. Susquehanna cut their price objective on shares of SunPower from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, StockNews.com started coverage on shares of SunPower in a research note on Saturday. They issued a “sell” rating on the stock. Twelve 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, the company currently has a consensus rating of “Reduce” and an average price target of $3.48.

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.