SunPower (SPWR) Rating Increased to Hold at BidaskClub

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

A number of other brokerages have also commented on SPWR. Credit Suisse Group reduced their target price on shares of SunPower from $8.50 to $8.00 and set a neutral rating on the stock in a research report on Thursday, June 7th. JPMorgan Chase & Co. reduced their target price on shares of SunPower from $8.00 to $7.50 and set a neutral rating on the stock in a research report on Thursday, February 15th. Zacks Investment Research raised shares of SunPower from a strong sell rating to a hold rating in a research report on Tuesday, April 17th. Oppenheimer reaffirmed a market perform rating and set a $10.00 target price on shares of SunPower in a research report on Thursday, February 15th. Finally, ValuEngine raised shares of SunPower from a sell rating to a hold rating in a research report on Thursday, May 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. SunPower presently has an average rating of Hold and an average price target of $8.79.

Shares of SunPower opened at $7.62 on Thursday, according to Marketbeat. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 2.15. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -18.59 and a beta of 2.42. SunPower has a 1 year low of $6.46 and a 1 year high of $11.70.

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

A number of hedge funds have recently modified their holdings of SPWR. Guggenheim Capital LLC increased its holdings in SunPower by 26.2% during 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 period. Point72 Asset Management L.P. purchased a new position in SunPower during the first quarter valued at approximately $2,496,000. Two Sigma Investments LP purchased a new position in SunPower during the fourth quarter valued at approximately $1,967,000. Rock Point Advisors LLC increased its holdings in SunPower by 64.1% during 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 period. Finally, KBC Group NV increased its holdings in SunPower by 194.2% during 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 period. 27.42% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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