SunPower (NASDAQ:SPWR) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of SunPower (NASDAQ:SPWR) in a research note published on Tuesday morning. The brokerage issued a sell rating on the semiconductor company’s stock.

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

SunPower Stock Performance

Shares of SPWR stock opened at $0.12 on Tuesday. SunPower has a 1 year low of $0.09 and a 1 year high of $7.77. The firm’s 50 day moving average is $0.44 and its 200-day moving average is $1.93. The firm has a market capitalization of $21.53 million, a price-to-earnings ratio of -0.09 and a beta of 1.86.

Hedge Funds Weigh In On SunPower

Institutional investors and hedge funds have recently modified their holdings of the business. Wedmont Private Capital bought a new position in SunPower in the first quarter valued at approximately $30,000. CIBC Asset Management Inc bought a new stake in SunPower in the 2nd quarter valued at $38,000. First Trust Direct Indexing L.P. acquired a new position in SunPower in the 1st quarter worth $46,000. Intech Investment Management LLC bought a new position in SunPower during the 2nd quarter worth about $159,000. Finally, Tidal Investments LLC raised its stake in shares of SunPower by 406.8% in the 1st quarter. Tidal Investments LLC now owns 53,943 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 43,299 shares during the period. 47.36% of the stock is currently owned by institutional investors and hedge funds.

SunPower Company Profile

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.