SunPower Corp. (SPWR) Shares Down 3.1%
SunPower Corp. (NASDAQ:SPWR) traded down 3.1% on Wednesday . The stock traded as low as $9.92 and last traded at $9.96, with a volume of 2,346,242 shares traded. The stock had previously closed at $10.28.
A number of brokerages have recently commented on SPWR. Wells Fargo & Co. began coverage on SunPower Corp. in a report on Wednesday, June 1st. They set a “market perform” rating for the company. Robert W. Baird reiterated a “buy” rating on shares of SunPower Corp. in a report on Sunday, May 8th. Morgan Stanley reiterated a “buy” rating on shares of SunPower Corp. in a report on Friday, May 6th. Barclays PLC reiterated an “overweight” rating and set a $23.00 price target (down from $32.00) on shares of SunPower Corp. in a report on Tuesday, May 10th. Finally, Janney Montgomery Scott reiterated a “buy” rating and set a $30.00 price target (up from $17.00) on shares of SunPower Corp. in a report on Monday, May 9th. Two 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 given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.25.
The firm’s market cap is $1.38 billion. The company has a 50 day moving average of $13.01 and a 200 day moving average of $17.72.
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 the Zacks’ consensus estimate of ($0.24) by $0.02. The business earned $420.50 million during the quarter, compared to analyst estimates of $344.97 million. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities analysts expect 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 shares of SunPower Corp. (NASDAQ:SPWR) by 72.3% during the fourth quarter, according to its most recent disclosure 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 0.27% of SunPower Corp. worth $11,076,000 at the end of the most recent reporting 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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