SunPower Corp. (SPWR) Reaches New 12-Month Low at $9.89
SunPower Corp. (NASDAQ:SPWR) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $9.89 and last traded at $10.11, with a volume of 1,113,477 shares traded. The stock had previously closed at $10.03.
Several research firms have recently commented on SPWR. Robert W. Baird restated a “buy” rating on shares of SunPower Corp. in a research report on Sunday, May 8th. Morgan Stanley lowered SunPower Corp. from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $27.00 to $12.00 in a research report on Friday, August 12th. Barclays PLC lowered SunPower Corp. from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $23.00 to $12.00 in a research report on Saturday, August 13th. Oppenheimer Holdings Inc. restated a “market perform” rating and set a $39.00 price target on shares of SunPower Corp. in a research report on Wednesday, August 10th. Finally, Citigroup Inc. lowered SunPower Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. SunPower Corp. currently has a consensus rating of “Hold” and an average price target of $27.25.
The company has a 50 day moving average price of $13.81 and a 200-day moving average price of $18.21. The stock’s market cap is $1.39 billion.
SunPower Corp. (NASDAQ:SPWR) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $420.50 million for the quarter, compared to analyst estimates of $344.97 million. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities analysts forecast that SunPower Corp. will post $0.35 EPS for the current fiscal year.
An institutional investor recently raised its position in SunPower Corp. stock. Wells Fargo & Company MN raised its position in SunPower Corp. (NASDAQ:SPWR) by 72.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 369,072 shares of the company’s stock after buying an additional 154,858 shares during the period. Wells Fargo & Company MN owned approximately 0.27% of SunPower Corp. worth $11,076,000 at the end of the most recent 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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