SunPower Corp. (SPWR) Trading Down 6.4%
Shares of SunPower Corp. (NASDAQ:SPWR) fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $14.31 and last traded at $14.47, with a volume of 1,467,732 shares traded. The stock had previously closed at $15.46.
Several analysts recently weighed in on the stock. Vetr cut shares of SunPower Corp. from a “strong-buy” rating to a “buy” rating and set a $26.92 target price on the stock. in a report on Wednesday, March 16th. Mizuho assumed coverage on shares of SunPower Corp. in a report on Wednesday, March 30th. They issued a “neutral” rating and a $25.00 target price on the stock. Robert W. Baird reaffirmed an “outperform” rating on shares of SunPower Corp. in a report on Thursday, April 7th. Zacks Investment Research cut shares of SunPower Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 19th. Finally, Guggenheim assumed coverage on shares of SunPower Corp. in a report on Tuesday, April 12th. They issued a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $33.78.
The company’s 50 day moving average price is $15.88 and its 200-day moving average price is $21.22. The firm’s market capitalization is $2.03 billion.
SunPower Corp. (NASDAQ:SPWR) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.10. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company earned $433.60 million during the quarter, compared to analyst estimates of $328.53 million. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts expect that SunPower Corp. will post $1.29 EPS for the current year.
Other large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in 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. Russell Frank Co raised its stake in 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 in the last quarter. Schroder Investment Management Group purchased a new stake in SunPower Corp. during the fourth quarter valued at about $1,510,000. State Board of Administration of Florida Retirement System raised its stake in SunPower Corp. by 13.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 53,517 shares of the company’s stock valued at $1,606,000 after buying an additional 6,460 shares in the last quarter. Finally, Swiss National Bank raised its stake in 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 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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