Shares of SunPower Corp. (NASDAQ:SPWR) traded down 3.3% during trading on Tuesday . The stock traded as low as $14.74 and last traded at $14.79, with a volume of 1,518,362 shares trading hands. The stock had previously closed at $15.30.

Several analysts have commented on the company. Avondale Partners cut SunPower Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday. Citigroup Inc. lowered SunPower Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating and issued a $39.00 price objective on shares of SunPower Corp. in a research note on Wednesday. Credit Suisse Group AG lowered SunPower Corp. from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $12.00 in a research note on Wednesday. Finally, Janney Montgomery Scott lowered SunPower Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. SunPower Corp. has an average rating of “Hold” and an average price target of $28.87.

The firm’s market cap is $1.42 billion. The stock has a 50 day moving average of $14.91 and a 200-day moving average of $19.17.

SunPower Corp. (NASDAQ:SPWR) last issued its earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.02. During the same period in the previous year, the company earned $0.18 earnings per share. The firm earned $420.50 million during the quarter, compared to analyst estimates of $344.97 million. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts anticipate that SunPower Corp. will post $1.36 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have recently modified their holdings of SPWR. Schroder Investment Management Group purchased a new position in shares of SunPower Corp. during the fourth quarter valued at $1,510,000. Wells Fargo & Company MN raised 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 during the last quarter. Rhumbline Advisers raised 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 during the last quarter. Swiss National Bank raised its position in shares of SunPower Corp. by 1.8% in the fourth quarter. Swiss National Bank now owns 73,700 shares of the company’s stock valued at $2,212,000 after buying an additional 1,300 shares during the last quarter. Finally, Russell Frank Co raised its position in shares of SunPower Corp. by 29.2% in the fourth quarter. Russell Frank Co now owns 44,658 shares of the company’s stock valued at $1,357,000 after buying an additional 10,099 shares during 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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