SunPower Corp. (SPWR) Shares Down 1.8%
Shares of SunPower Corp. (NASDAQ:SPWR) were down 1.8% on Monday . The stock traded as low as $10.59 and last traded at $10.65, with a volume of 1,707,580 shares. The stock had previously closed at $10.85.
Several analysts recently weighed in on SPWR shares. Zacks Investment Research cut shares of SunPower Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 19th. Morgan Stanley reissued a “buy” rating on shares of SunPower Corp. in a research note on Friday, May 6th. Robert W. Baird reissued a “buy” rating on shares of SunPower Corp. in a research note on Sunday, May 8th. Janney Montgomery Scott reissued a “buy” rating and issued a $30.00 price objective (up previously from $17.00) on shares of SunPower Corp. in a research note on Monday, May 9th. Finally, Barclays PLC reissued an “overweight” rating and issued a $23.00 price objective (down previously from $32.00) on shares of SunPower Corp. in a research note on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. SunPower Corp. presently has a consensus rating of “Hold” and a consensus price target of $27.25.
The firm has a 50 day moving average price of $14.48 and a 200-day moving average price of $18.74. The firm’s market cap is $1.45 billion.
SunPower Corp. (NASDAQ:SPWR) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The firm earned $420.50 million during the quarter, compared to analysts’ expectations of $344.97 million. During the same quarter in the previous year, the firm posted $0.18 EPS. SunPower Corp.’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts expect that SunPower Corp. will post $0.34 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in SPWR. Rhumbline Advisers boosted its position in SunPower Corp. by 18.9% in the fourth quarter. Rhumbline Advisers now owns 39,648 shares of the company’s stock worth $1,190,000 after buying an additional 6,310 shares during the last quarter. Schroder Investment Management Group purchased a new position in SunPower Corp. during the fourth quarter worth about $1,510,000. Finally, Wells Fargo & Company MN boosted its position in SunPower Corp. by 72.3% in the fourth quarter. Wells Fargo & Company MN now owns 369,072 shares of the company’s stock worth $11,076,000 after buying an additional 154,858 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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