SunPower (NASDAQ:SPWR) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of SunPower (NASDAQ:SPWR) in a report released on Monday morning. The firm issued a sell rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on the stock. Citigroup reduced their price target on shares of SunPower from $2.50 to $0.25 and set a sell rating on the stock in a research report on Friday, July 19th. The Goldman Sachs Group decreased their target price on SunPower from $2.00 to $0.50 and set a sell rating for the company in a research report on Tuesday, July 23rd. Susquehanna lowered their target price on SunPower from $3.00 to $2.50 and set a neutral rating for the company in a research note on Monday, July 15th. Mizuho cut SunPower from a neutral rating to an underperform rating and reduced their price target for the stock from $4.00 to $0.50 in a research note on Friday, July 19th. Finally, Glj Research reissued a sell rating and set a $1.61 price objective on shares of SunPower in a research report on Tuesday, July 16th. Twelve equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of Reduce and an average price target of $3.48.

SunPower Price Performance

Shares of SPWR stock opened at $0.12 on Monday. The firm has a market capitalization of $21.53 million, a price-to-earnings ratio of -0.09 and a beta of 1.86. The stock has a fifty day moving average of $0.72 and a 200 day moving average of $2.06. SunPower has a 52 week low of $0.09 and a 52 week high of $7.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its position in SunPower by 530.1% in the 2nd quarter. SG Americas Securities LLC now owns 1,646,592 shares of the semiconductor company’s stock worth $4,874,000 after buying an additional 1,385,270 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of SunPower during the second quarter valued at approximately $2,084,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of SunPower during the first quarter valued at approximately $932,000. Quadrature Capital Ltd lifted its position in SunPower by 117.7% during the first quarter. Quadrature Capital Ltd now owns 343,628 shares of the semiconductor company’s stock valued at $1,034,000 after purchasing an additional 185,761 shares during the period. Finally, Swedbank AB purchased a new stake in SunPower in the first quarter worth approximately $368,000. 47.36% of the stock is owned by institutional investors.

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.