SunPower (SPWR) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of SunPower (NASDAQ:SPWR) from a strong sell rating to a sell rating in a research note released on Friday.

A number of other equities analysts have also recently issued reports on the stock. Credit Suisse Group upgraded shares of SunPower from a neutral rating to an outperform rating and upped their price target for the stock from $8.00 to $10.00 in a research note on Wednesday, September 19th. Robert W. Baird cut shares of SunPower from an outperform rating to a neutral rating and dropped their price target for the stock from $10.00 to $7.00 in a research note on Monday, June 11th. Williams Capital upped their price target on shares of SunPower from $6.00 to $8.00 and gave the stock a hold rating in a research note on Thursday, May 24th. JPMorgan Chase & Co. dropped their price target on shares of SunPower from $9.50 to $8.50 and set a neutral rating on the stock in a research note on Thursday, June 7th. Finally, ValuEngine upgraded shares of SunPower from a sell rating to a hold rating in a research note on Saturday, June 2nd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $8.72.

Shares of SunPower stock opened at $7.78 on Friday. The stock has a market capitalization of $1.11 billion, a P/E ratio of -19.00 and a beta of 2.07. SunPower has a 1 year low of $6.36 and a 1 year high of $10.00. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 9.81.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings results on Monday, July 30th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.28. The company had revenue of $449.09 million for the quarter, compared to analysts’ expectations of $389.86 million. SunPower had a negative net margin of 60.01% and a positive return on equity of 1.37%. SunPower’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) EPS. analysts expect that SunPower will post -1.55 earnings per share for the current fiscal year.

In other SunPower news, EVP Kenneth Lawrence Mahaffey sold 27,964 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $7.30, for a total value of $204,137.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in SunPower in the 1st quarter worth about $109,000. Candriam Luxembourg S.C.A. purchased a new position in SunPower in the 1st quarter worth about $111,000. Cubist Systematic Strategies LLC purchased a new position in SunPower in the 1st quarter worth about $139,000. Suntrust Banks Inc. purchased a new position in SunPower in the 1st quarter worth about $145,000. Finally, Timber Hill LLC purchased a new position in SunPower in the 2nd quarter worth about $148,000. 27.22% of the stock is owned by institutional investors and hedge funds.

About SunPower

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.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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