SunPower Corporation (SPWRA) Initiated as Sell at Auriga

SunPower Corporation (SPWRA) has been initiated today with coverage from the research analysts at Auriga.  Auriga begins this new coverage of SPWRA with an initial price target set at $14 dollars and rates performance of SPWRA as “sell.”  Auriga noted today that SunPower’s technology leadership is hindered by inefficient cost structure and poor operational execution, too.  Additionally noted that SunPower has a balance sheet which opens it to vulnerability in regard to pricing pressure.

SPWRA dropped at the beginning of today’s normal market session with a bearish gap.  Previously, price action volatility during trading of last week had been consolidating and did so at the tail end of the previous week before that.  Today marks the break of consolidation as shares slid south.  Volatility of shares being exchange had been drying during the week-plus stint of consolidation as well.  Share volume volatility nearly rose double today over Friday of last week as a moderate sell-off occurred.

SunPower is slated to release their next earnings report on August 11th, 2011, and is estimated to post negative EPS of a single cent.  Their last earnings report was released on May 12th, 2011, and announced EPS of 15cents with revenue totaling $451 million which was up 30.0% year to year.  SPWRA is currently trading above its 50 & 200-day moving averages and 2011 is an up year for the company.

SunPower Corporation is a vertically integrated solar products and services company that designs, manufactures and delivers high-performance solar electric systems worldwide for residential, commercial and utility-scale power plant customers.  The company has market capitalization of $1,189,784,160 and 56,982,000 shares outstanding.  SPWRA has a 52-week high of $23.36 with the low being $9.61 dollars.

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