Walleye Capital LLC Takes Position in SunPower Co. (NASDAQ:SPWR)

Walleye Capital LLC purchased a new position in SunPower Co. (NASDAQ:SPWRGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,893 shares of the semiconductor company’s stock, valued at approximately $621,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its holdings in shares of SunPower by 20.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 796 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in SunPower by 4.3% during the first quarter. NorthCrest Asset Manangement LLC now owns 21,900 shares of the semiconductor company’s stock worth $470,000 after acquiring an additional 900 shares in the last quarter. ETF Managers Group LLC grew its holdings in SunPower by 5.0% in the fourth quarter. ETF Managers Group LLC now owns 20,428 shares of the semiconductor company’s stock worth $429,000 after purchasing an additional 972 shares during the period. Teacher Retirement System of Texas increased its stake in shares of SunPower by 6.6% during the first quarter. Teacher Retirement System of Texas now owns 17,877 shares of the semiconductor company’s stock valued at $384,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc lifted its holdings in shares of SunPower by 26.4% during the first quarter. Guinness Atkinson Asset Management Inc now owns 5,435 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 1,135 shares during the last quarter. Institutional investors own 36.61% of the company’s stock.

SunPower Stock Performance

SPWR stock opened at $26.48 on Thursday. The company has a market cap of $4.61 billion, a P/E ratio of -29.42 and a beta of 1.97. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 0.94. SunPower Co. has a 1 year low of $12.78 and a 1 year high of $34.61. The stock’s fifty day moving average price is $23.25 and its 200-day moving average price is $20.09.

SunPower (NASDAQ:SPWRGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). SunPower had a negative net margin of 10.51% and a negative return on equity of 4.15%. The firm had revenue of $417.80 million for the quarter, compared to the consensus estimate of $364.47 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 60.2% compared to the same quarter last year. On average, equities analysts forecast that SunPower Co. will post 0.12 earnings per share for the current year.

Insider Activity at SunPower

In other SunPower news, EVP Douglas J. Richards sold 23,912 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $25.90, for a total value of $619,320.80. Following the transaction, the executive vice president now directly owns 23,909 shares in the company, valued at $619,243.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Vichheka Heang sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $24.95, for a total transaction of $349,300.00. Following the completion of the transaction, the insider now directly owns 5,046 shares in the company, valued at approximately $125,897.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Douglas J. Richards sold 23,912 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $25.90, for a total transaction of $619,320.80. Following the sale, the executive vice president now owns 23,909 shares in the company, valued at approximately $619,243.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,912 shares of company stock worth $1,634,371. 0.65% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on SPWR shares. Barclays began coverage on SunPower in a research report on Friday, August 5th. They set an “equal weight” rating and a $26.00 price objective for the company. Morgan Stanley lifted their price target on SunPower from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. The Goldman Sachs Group increased their price objective on shares of SunPower from $14.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, September 8th. Wells Fargo & Company started coverage on shares of SunPower in a report on Wednesday, June 29th. They issued an “underweight” rating and a $17.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of SunPower from $20.00 to $25.00 and gave the company an “underweight” rating in a report on Monday, August 8th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.50.

SunPower Company Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding SPWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunPower Co. (NASDAQ:SPWRGet Rating).

Institutional Ownership by Quarter for SunPower (NASDAQ:SPWR)

Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.