SunPower Corporation (NASDAQ:SPWR) shares were down 6.1% during trading on Wednesday . The company traded as low as $7.76 and last traded at $7.86. Approximately 4,994,716 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 3,355,930 shares. The stock had previously closed at $8.37.

SPWR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of SunPower Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, August 7th. Robert W. Baird reiterated a “hold” rating and set a $7.00 price target on shares of SunPower Corporation in a research note on Friday, September 1st. Axiom Securities reiterated a “buy” rating on shares of SunPower Corporation in a research note on Saturday, July 22nd. Vetr upgraded shares of SunPower Corporation from a “buy” rating to a “strong-buy” rating and set a $12.52 price target on the stock in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded shares of SunPower Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.48.

The company’s market cap is $1.10 billion. The company has a 50 day moving average price of $9.09 and a 200-day moving average price of $8.18.

SunPower Corporation (NASDAQ:SPWR) last released its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.24. The firm had revenue of $341.50 million for the quarter, compared to analysts’ expectations of $312.58 million. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. SunPower Corporation’s quarterly revenue was down 15.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) EPS. On average, analysts forecast that SunPower Corporation will post ($0.99) EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in SPWR. CAPROCK Group Inc. boosted its holdings in shares of SunPower Corporation by 1.1% in the second quarter. CAPROCK Group Inc. now owns 11,941 shares of the semiconductor company’s stock worth $112,000 after buying an additional 128 shares during the period. HighTower Advisors LLC acquired a new position in shares of SunPower Corporation in the second quarter worth about $124,000. Candriam Luxembourg S.C.A. acquired a new position in shares of SunPower Corporation in the second quarter worth about $130,000. WFG Advisors LP boosted its holdings in shares of SunPower Corporation by 7.6% in the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after buying an additional 1,100 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in shares of SunPower Corporation by 340.9% in the second quarter. Quantbot Technologies LP now owns 15,986 shares of the semiconductor company’s stock worth $149,000 after buying an additional 12,360 shares during the period. 28.82% of the stock is currently owned by institutional investors.

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About SunPower Corporation

SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.

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