Brokerages Set SunPower Co. (NASDAQ:SPWR) PT at $4.72

Shares of SunPower Co. (NASDAQ:SPWR) have earned a consensus rating of “Reduce” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.72.

Several analysts have weighed in on SPWR shares. Truist Financial dropped their price objective on SunPower from $5.00 to $3.50 and set a “hold” rating for the company in a report on Tuesday, January 23rd. Guggenheim lowered SunPower from a “neutral” rating to a “sell” rating in a report on Friday, February 16th. Evercore ISI cut SunPower from an “outperform” rating to an “inline” rating and set a $6.00 target price for the company. in a research note on Tuesday, April 23rd. UBS Group raised their price target on SunPower from $4.00 to $4.25 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, Mizuho decreased their price objective on SunPower from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Friday, April 19th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC grew its stake in shares of SunPower by 50.8% in the first quarter. Inspire Investing LLC now owns 119,449 shares of the semiconductor company’s stock valued at $358,000 after buying an additional 40,223 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in SunPower in the first quarter valued at $932,000. SG Americas Securities LLC grew its position in shares of SunPower by 27.7% in the 1st quarter. SG Americas Securities LLC now owns 261,322 shares of the semiconductor company’s stock valued at $784,000 after acquiring an additional 56,764 shares during the period. Quantbot Technologies LP increased its stake in shares of SunPower by 16.4% during the 1st quarter. Quantbot Technologies LP now owns 124,096 shares of the semiconductor company’s stock worth $372,000 after purchasing an additional 17,464 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in SunPower by 22.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 214,799 shares of the semiconductor company’s stock valued at $644,000 after purchasing an additional 39,542 shares during the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

SunPower Stock Down 1.3 %

NASDAQ SPWR opened at $2.33 on Friday. SunPower has a twelve month low of $1.76 and a twelve month high of $12.18. The company’s 50-day simple moving average is $2.61 and its 200 day simple moving average is $3.56. The stock has a market cap of $408.59 million, a P/E ratio of -1.70 and a beta of 1.80.

SunPower (NASDAQ:SPWR) last announced its earnings results on Thursday, February 15th. The semiconductor company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.24). SunPower had a negative return on equity of 40.95% and a negative net margin of 14.15%. The firm had revenue of $356.91 million for the quarter, compared to analyst estimates of $364.58 million. Research analysts anticipate that SunPower will post -0.74 earnings per share for the current year.

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.