SunPower (NASDAQ:SPWR) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of SunPower (NASDAQ:SPWR) in a research note issued to investors on Tuesday. The firm issued a sell rating on the semiconductor company’s stock.

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

SunPower Stock Performance

SPWR opened at $0.12 on Tuesday. The company has a market cap of $21.53 million, a price-to-earnings ratio of -0.09 and a beta of 1.86. The stock has a fifty day simple moving average of $0.54 and a two-hundred day simple moving average of $1.97. SunPower has a 12-month low of $0.09 and a 12-month high of $7.77.

Hedge Funds Weigh In On SunPower

Several institutional investors have recently made changes to their positions in SPWR. Point72 Asset Management L.P. purchased a new stake in SunPower during the second quarter valued at approximately $2,084,000. Intech Investment Management LLC purchased a new stake in shares of SunPower in the 2nd quarter worth $159,000. Dimensional Fund Advisors LP increased its stake in shares of SunPower by 22.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 271,313 shares of the semiconductor company’s stock worth $803,000 after purchasing an additional 50,104 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in SunPower by 59.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 118,088 shares of the semiconductor company’s stock worth $350,000 after purchasing an additional 44,243 shares during the period. Finally, Rhumbline Advisers lifted its position in SunPower by 6.9% during the second quarter. Rhumbline Advisers now owns 315,648 shares of the semiconductor company’s stock valued at $934,000 after purchasing an additional 20,396 shares in the last quarter. Institutional investors own 47.36% of the company’s stock.

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.