SunPower Corp. (SPWR) Stock Price Down 2%
SunPower Corp. (NASDAQ:SPWR) traded down 2% on Friday . The company traded as low as $15.17 and last traded at $15.40, with a volume of 907,940 shares trading hands. The stock had previously closed at $15.72.
A number of equities research analysts recently weighed in on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $37.00 price target on shares of SunPower Corp. in a report on Thursday, July 7th. Wells Fargo & Co. assumed coverage on SunPower Corp. in a report on Wednesday, June 1st. They set a “market perform” rating for the company. Barclays PLC reaffirmed an “overweight” rating and set a $23.00 price target (down from $32.00) on shares of SunPower Corp. in a report on Tuesday, May 10th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $30.00 price target (up from $17.00) on shares of SunPower Corp. in a report on Monday, May 9th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of SunPower Corp. in a report on Friday, May 6th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. SunPower Corp. has an average rating of “Buy” and an average price target of $33.78.
The stock has a 50-day moving average of $15.42 and a 200-day moving average of $20.23. The company’s market cap is $2.12 billion.
SunPower Corp. (NASDAQ:SPWR) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.20) by $0.10. During the same period in the prior year, the company posted $0.13 EPS. The business had revenue of $433.60 million for the quarter, compared to analyst estimates of $328.53 million. SunPower Corp.’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts anticipate that SunPower Corp. will post $1.30 earnings per share for the current fiscal year.
A number of hedge funds and institutional investors have recently made changes to their positions in SPWR. Schroder Investment Management Group purchased a new position in shares of SunPower Corp. during the fourth quarter valued at approximately $1,510,000. Wells Fargo & Company MN increased its position in shares of SunPower Corp. by 72.3% in the fourth quarter. Wells Fargo & Company MN now owns 369,072 shares of the company’s stock valued at $11,076,000 after buying an additional 154,858 shares in the last quarter. Ecofin Ltd. increased its position in shares of SunPower Corp. by 21.1% in the fourth quarter. Ecofin Ltd. now owns 1,040,650 shares of the company’s stock valued at $31,230,000 after buying an additional 181,130 shares in the last quarter. Quantitative Investment Management LLC purchased a new position in shares of SunPower Corp. during the fourth quarter valued at approximately $2,397,000. Finally, Rhumbline Advisers increased its position in shares of SunPower Corp. by 18.9% in the fourth quarter. Rhumbline Advisers now owns 39,648 shares of the company’s stock valued at $1,190,000 after buying an additional 6,310 shares in the last quarter.
SunPower Corporation is a global energy company. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: Residential Segment, Commercial Segment and Power Plant Segment. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements.
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