SunPower (NASDAQ:SPWR) PT Lowered to $3.00

SunPower (NASDAQ:SPWR) had its price objective lowered by analysts at Susquehanna from $4.50 to $3.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target would suggest a potential upside of 12.78% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded SunPower to a “sell” rating in a research note on Saturday, December 23rd. Raymond James lowered SunPower from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Guggenheim lowered SunPower from a “neutral” rating to a “sell” rating in a research note on Friday, February 16th. Jefferies Financial Group assumed coverage on SunPower in a research note on Friday, December 15th. They set a “hold” rating and a $5.50 price objective for the company. Finally, Wells Fargo & Company restated an “underweight” rating and set a $4.00 target price (down previously from $6.00) on shares of SunPower in a report on Monday, January 8th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, SunPower has an average rating of “Hold” and an average price target of $5.25.

SunPower Trading Down 6.7 %

NASDAQ SPWR opened at $2.66 on Friday. The company has a market cap of $466.46 million, a P/E ratio of -1.94 and a beta of 1.73. The company has a fifty day simple moving average of $3.15 and a 200 day simple moving average of $4.12. SunPower has a 12-month low of $2.49 and a 12-month high of $14.92.

SunPower (NASDAQ:SPWR) last posted its quarterly earnings data on Thursday, February 15th. The semiconductor company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.24). The firm had revenue of $356.91 million for the quarter, compared to analysts’ expectations of $364.58 million. SunPower had a negative return on equity of 40.95% and a negative net margin of 14.15%. Sell-side analysts predict that SunPower will post -0.73 EPS for the current year.

Institutional Trading of SunPower

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in SunPower by 383.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 4,255 shares during the last quarter. Avior Wealth Management LLC acquired a new position in SunPower during the 3rd quarter valued at about $31,000. PNC Financial Services Group Inc. increased its holdings in shares of SunPower by 86.3% in the second quarter. PNC Financial Services Group Inc. now owns 4,327 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 2,005 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of SunPower by 53.3% in the third quarter. Exchange Traded Concepts LLC now owns 7,296 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 2,537 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of SunPower in the fourth quarter worth about $49,000. Institutional investors own 47.36% of the company’s stock.

About SunPower

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.