SunPower Corp. (SPWR) Reaches New 1-Year Low at $9.89
Shares of SunPower Corp. (NASDAQ:SPWR) hit a new 52-week low during mid-day 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 changing hands. The stock had previously closed at $10.03.
Several brokerages recently issued reports on SPWR. Robert W. Baird reiterated an “outperform” rating and issued a $37.00 price target on shares of SunPower Corp. in a report on Saturday, May 14th. Mizuho lowered their price target on SunPower Corp. from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, August 10th. Janney Montgomery Scott reiterated a “buy” rating and issued a $30.00 price target (up from $17.00) on shares of SunPower Corp. in a report on Monday, May 9th. Guggenheim upgraded SunPower Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $15.64 to $20.00 in a report on Wednesday, July 27th. Finally, Zacks Investment Research downgraded SunPower Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.25.
The firm has a 50 day moving average of $13.54 and a 200-day moving average of $18.09. The firm’s market cap is $1.36 billion.
SunPower Corp. (NASDAQ:SPWR) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The business had revenue of $420.50 million for the quarter, compared to the consensus estimate of $344.97 million. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. Equities research analysts expect that SunPower Corp. will post $0.35 EPS for the current year.
A hedge fund recently raised its stake in SunPower Corp. stock. Rhumbline Advisers boosted its stake in SunPower Corp. (NASDAQ:SPWR) by 18.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,648 shares of the company’s stock after buying an additional 6,310 shares during the period. Rhumbline Advisers’ holdings in SunPower Corp. were worth $1,190,000 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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