SunPower (NASDAQ:SPWR – Get Rating) had its price target boosted by research analysts at Raymond James from $22.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Raymond James’ price objective points to a potential upside of 9.84% from the company’s previous close.
SPWR has been the subject of a number of other research reports. UBS Group upped their price target on SunPower from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday. Piper Sandler reduced their price target on SunPower from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. JPMorgan Chase & Co. upped their price objective on SunPower from $19.00 to $20.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group cut SunPower from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $19.00 to $13.00 in a research note on Monday, June 20th. Finally, Roth Capital dropped their price objective on SunPower from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, July 22nd. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.29.
SunPower Trading Up 2.3 %
NASDAQ:SPWR opened at $22.76 on Wednesday. SunPower has a twelve month low of $12.78 and a twelve month high of $34.61. The company has a quick ratio of 0.87, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $17.59 and a two-hundred day moving average price of $17.96. The company has a market cap of $3.96 billion, a P/E ratio of -25.29 and a beta of 2.06.
Institutional Investors Weigh In On SunPower
Large investors have recently added to or reduced their stakes in the business. Huntington National Bank bought a new stake in SunPower in the 1st quarter valued at $32,000. Banque Cantonale Vaudoise increased its position in SunPower by 140.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,567 shares of the semiconductor company’s stock worth $54,000 after buying an additional 1,500 shares during the period. US Bancorp DE increased its position in SunPower by 205.7% during the 1st quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after buying an additional 2,763 shares during the period. PNC Financial Services Group Inc. increased its position in SunPower by 66.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock worth $96,000 after buying an additional 1,792 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in SunPower by 20.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock worth $100,000 after buying an additional 796 shares during the period. Institutional investors own 36.61% of the company’s stock.
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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