SunPower Co. (NASDAQ:SPWR) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 15,292,196 shares, a decrease of 14.6% from the February 15th total of 17,914,672 shares. Based on an average trading volume of 2,161,412 shares, the days-to-cover ratio is presently 7.1 days. Currently, 26.8% of the company’s shares are short sold.
Several equities research analysts recently weighed in on the company. BidaskClub cut SunPower from a “sell” rating to a “strong sell” rating in a report on Friday, March 2nd. ValuEngine cut SunPower from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Cowen restated a “buy” rating and set a $10.00 target price on shares of SunPower in a report on Thursday, February 15th. JPMorgan Chase & Co. dropped their target price on SunPower from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Thursday, February 15th. Finally, Oppenheimer restated a “market perform” rating and set a $10.00 target price on shares of SunPower in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $9.22.
Shares of SunPower (NASDAQ SPWR) opened at $7.19 on Wednesday. SunPower has a fifty-two week low of $5.84 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 5.05, a current ratio of 1.23 and a quick ratio of 0.91. The firm has a market capitalization of $1,010.00, a P/E ratio of -1.83 and a beta of 2.69.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Impax Asset Management LTD lifted its holdings in SunPower by 0.8% in the 4th quarter. Impax Asset Management LTD now owns 3,102,774 shares of the semiconductor company’s stock worth $26,156,000 after buying an additional 24,878 shares during the period. State Street Corp lifted its holdings in SunPower by 14.0% in the 2nd quarter. State Street Corp now owns 2,421,834 shares of the semiconductor company’s stock worth $22,619,000 after buying an additional 296,862 shares during the period. Guggenheim Capital LLC lifted its holdings in SunPower by 26.2% in the 4th quarter. Guggenheim Capital LLC now owns 2,237,502 shares of the semiconductor company’s stock worth $18,864,000 after buying an additional 464,072 shares during the period. Dimensional Fund Advisors LP lifted its holdings in SunPower by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock worth $12,991,000 after buying an additional 3,841 shares during the period. Finally, DnB Asset Management AS lifted its holdings in SunPower by 447.4% in the 4th quarter. DnB Asset Management AS now owns 1,105,612 shares of the semiconductor company’s stock worth $9,320,000 after buying an additional 903,620 shares during the period. Institutional investors and hedge funds own 27.21% of the company’s stock.
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SunPower Company Profile
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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