SunPower Corp. (SPWR) Trading Up 3.4%
SunPower Corp. (NASDAQ:SPWR)’s share price was up 3.4% during trading on Thursday . The company traded as high as $15.45 and last traded at $15.36, with a volume of 1,139,457 shares. The stock had previously closed at $14.85.
A number of equities research analysts have recently issued reports on SPWR shares. 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. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $30.00 target price (up from $17.00) on shares of SunPower Corp. in a report on Monday, May 9th. Robert W. Baird reaffirmed a “buy” rating on shares of SunPower Corp. in a report on Sunday, May 8th. Morgan Stanley reaffirmed a “buy” rating on shares of SunPower Corp. in a report on Friday, May 6th. Finally, Zacks Investment Research cut shares of SunPower Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 19th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. SunPower Corp. currently has an average rating of “Buy” and an average price target of $33.78.
The stock has a 50 day moving average of $15.68 and a 200-day moving average of $20.72. The stock’s market cap is $2.12 billion.
SunPower Corp. (NASDAQ:SPWR) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.20) by $0.10. The business had revenue of $433.60 million for the quarter, compared to analyst estimates of $328.53 million. During the same quarter last year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts forecast that SunPower Corp. will post $1.31 earnings per share for the current fiscal year.
Several hedge funds have bought and sold shares of SPWR. Quantitative Investment Management LLC acquired a new stake in SunPower Corp. during the fourth quarter valued at about $2,397,000. 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 during the period. 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 during the period. GAM Holding AG raised its stake in SunPower Corp. by 300.4% in the fourth quarter. GAM Holding AG now owns 308,322 shares of the company’s stock valued at $9,252,000 after buying an additional 231,322 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in SunPower Corp. by 0.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 102,148 shares of the company’s stock valued at $3,065,000 after buying an additional 550 shares during the period.
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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