Equities researchers at StockNews.com started coverage on shares of SunPower (NASDAQ:SPWR – Get Free Report) in a research report issued on Monday. The firm set a “sell” rating on the semiconductor company’s stock.
SPWR has been the subject of a number of other reports. Glj Research reiterated a “sell” rating and set a $1.61 target price on shares of SunPower in a research report on Tuesday, July 16th. 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. Susquehanna lowered their price target on SunPower from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Monday, July 15th. Citigroup lowered their price target on SunPower from $2.50 to $0.25 and set a “sell” rating for the company in a research report on Friday, July 19th. Finally, Mizuho downgraded SunPower from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $4.00 to $0.50 in a research report on Friday, July 19th. Twelve research 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, SunPower has an average rating of “Reduce” and a consensus target price of $3.48.
Read Our Latest Research Report on SunPower
SunPower Stock Performance
Institutional Trading of SunPower
A number of hedge funds and other institutional investors have recently bought and sold shares of SPWR. Point72 Asset Management L.P. purchased a new position in shares of SunPower during the second quarter valued at $2,084,000. Intech Investment Management LLC purchased a new position in shares of SunPower during the second quarter valued at $159,000. Dimensional Fund Advisors LP increased its stake in shares of SunPower by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 271,313 shares of the semiconductor company’s stock valued at $803,000 after buying an additional 50,104 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of SunPower by 59.9% during the second quarter. Texas Permanent School Fund Corp now owns 118,088 shares of the semiconductor company’s stock valued at $350,000 after buying an additional 44,243 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of SunPower by 6.9% during the second quarter. Rhumbline Advisers now owns 315,648 shares of the semiconductor company’s stock valued at $934,000 after buying an additional 20,396 shares during the period. 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.
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