BidaskClub Lowers SunPower (SPWR) to Sell

BidaskClub lowered shares of SunPower (NASDAQ:SPWR) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Other research analysts have also issued research reports about the stock. Bank of America set a $10.00 price target on shares of SunPower and gave the company a hold rating in a research note on Thursday, December 28th. ValuEngine upgraded shares of SunPower from a sell rating to a hold rating in a research note on Saturday, November 4th. Zacks Investment Research lowered shares of SunPower from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Guggenheim restated a hold rating on shares of SunPower in a research note on Thursday. Finally, Robert W. Baird upgraded shares of SunPower from a neutral rating to an outperform rating and upped their price target for the company from $7.00 to $10.00 in a research note on Monday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $9.85.

SunPower (NASDAQ:SPWR) traded up $0.10 during trading hours on Friday, reaching $8.65. 1,450,000 shares of the company were exchanged, compared to its average volume of 2,790,000. SunPower has a 12 month low of $5.84 and a 12 month high of $11.70. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02. The stock has a market capitalization of $1,210.00, a PE ratio of -2.15 and a beta of 3.16.

SunPower (NASDAQ:SPWR) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.60. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The business had revenue of $477.20 million for the quarter, compared to analyst estimates of $383.76 million. During the same quarter in the prior year, the business posted $0.68 EPS. SunPower’s revenue for the quarter was down 34.6% compared to the same quarter last year. equities analysts anticipate that SunPower will post -0.77 earnings per share for the current fiscal year.

In other news, Director Catherine A. Lesjak sold 23,632 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total value of $177,240.00. Following the sale, the director now owns 55,924 shares in the company, valued at $419,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. WFG Advisors LP increased its stake in shares of SunPower by 7.6% in the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 1,100 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in SunPower by 8.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock valued at $216,000 after buying an additional 1,730 shares during the period. Van ECK Associates Corp grew its position in SunPower by 2.3% during the second quarter. Van ECK Associates Corp now owns 114,172 shares of the semiconductor company’s stock valued at $1,066,000 after buying an additional 2,599 shares during the period. Dimensional Fund Advisors LP grew its position in SunPower by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock valued at $12,991,000 after buying an additional 3,841 shares during the period. Finally, Alliancebernstein L.P. grew its position in SunPower by 13.6% during the second quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 5,610 shares during the period. Hedge funds and other institutional investors own 25.39% of the company’s stock.

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About SunPower

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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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