SunPower (SPWR) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of SunPower (NASDAQ:SPWR) from a sell rating to a hold rating in a research note published on Thursday.

Several other brokerages also recently issued reports on SPWR. BidaskClub raised shares of SunPower from a hold rating to a buy rating in a report on Saturday, April 21st. Bank of America downgraded shares of SunPower from a neutral rating to an underperform rating in a report on Monday, April 23rd. Credit Suisse Group upped their price target on shares of SunPower from $7.20 to $8.50 and gave the company a neutral rating in a report on Thursday, April 19th. Guggenheim reaffirmed a hold rating on shares of SunPower in a report on Thursday, January 18th. Finally, Zacks Investment Research raised shares of SunPower from a strong sell rating to a hold rating in a report on Tuesday, April 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. SunPower has a consensus rating of Hold and a consensus target price of $9.09.

SPWR stock traded down $0.12 during trading on Thursday, reaching $9.17. 1,148,457 shares of the company were exchanged, compared to its average volume of 2,633,330. SunPower has a 52-week low of $9.15 and a 52-week high of $9.41. The company has a market cap of $1.28 billion, a P/E ratio of -22.35 and a beta of 2.54. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 2.15.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.13. SunPower had a negative net margin of 44.66% and a negative return on equity of 6.37%. The company had revenue of $398.90 million for the quarter, compared to the consensus estimate of $369.63 million. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. equities research analysts expect that SunPower will post -1.99 earnings per share for the current year.

Several large investors have recently bought and sold shares of SPWR. Guggenheim Capital LLC raised its position in shares of SunPower by 26.2% in the fourth quarter. Guggenheim Capital LLC now owns 2,237,502 shares of the semiconductor company’s stock valued at $18,864,000 after buying an additional 464,072 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of SunPower in the first quarter valued at approximately $2,496,000. Two Sigma Investments LP acquired a new position in shares of SunPower in the fourth quarter valued at approximately $1,967,000. Rock Point Advisors LLC raised its position in shares of SunPower by 64.1% in the first quarter. Rock Point Advisors LLC now owns 584,670 shares of the semiconductor company’s stock valued at $4,666,000 after buying an additional 228,415 shares during the last quarter. Finally, KBC Group NV raised its position in shares of SunPower by 194.2% in the first quarter. KBC Group NV now owns 214,910 shares of the semiconductor company’s stock valued at $1,715,000 after buying an additional 141,873 shares during the last quarter. 27.08% of the stock is owned by institutional investors and hedge funds.

SunPower Company Profile

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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