SunPower (NASDAQ:SPWR) Trading Up 12.1%

SunPower Co. (NASDAQ:SPWRGet Rating)’s share price was up 12.1% during trading on Friday . The company traded as high as $18.12 and last traded at $18.02. Approximately 202,074 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,382,798 shares. The stock had previously closed at $16.07.

A number of analysts have commented on SPWR shares. The Goldman Sachs Group lifted their target price on SunPower from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Raymond James raised their price target on SunPower from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 5th. Robert W. Baird raised their price target on SunPower from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, April 1st. StockNews.com started coverage on SunPower in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on SunPower from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Monday, April 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SunPower presently has a consensus rating of “Hold” and an average target price of $22.50.

The stock has a fifty day simple moving average of $17.79 and a 200 day simple moving average of $19.04. The firm has a market capitalization of $3.11 billion, a P/E ratio of -116.66 and a beta of 2.05.

SunPower (NASDAQ:SPWRGet Rating) last issued its earnings results on Thursday, May 5th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter. SunPower had a negative return on equity of 3.50% and a negative net margin of 1.23%. The firm had revenue of $350.28 million during the quarter, compared to the consensus estimate of $317.56 million. During the same period last year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 45.9% compared to the same quarter last year. On average, equities research analysts predict that SunPower Co. will post 0.24 EPS for the current year.

Several hedge funds have recently modified their holdings of SPWR. Huntington National Bank bought a new stake in SunPower during the first quarter worth approximately $32,000. Banque Cantonale Vaudoise increased its stake in SunPower by 140.6% during the first quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 1,500 shares during the last quarter. US Bancorp DE boosted its position in shares of SunPower by 205.7% during the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 2,763 shares during the period. Guinness Atkinson Asset Management Inc boosted its position in shares of SunPower by 26.5% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 4,300 shares of the semiconductor company’s stock valued at $90,000 after buying an additional 900 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of SunPower by 66.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock valued at $96,000 after buying an additional 1,792 shares during the period. 36.61% of the stock is currently owned by hedge funds and other institutional investors.

SunPower Company Profile (NASDAQ:SPWR)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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