SunPower Co. (NASDAQ:SPWR) Receives Average Recommendation of “Strong Sell” from Analysts

Shares of SunPower Co. (NASDAQ:SPWR) have been given a consensus rating of “Strong Sell” by the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $3.48.

Several brokerages have commented on SPWR. Susquehanna cut 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. Citigroup reduced their price objective on shares of SunPower from $2.50 to $0.25 and set a “sell” rating for the company in a research note on Friday, July 19th. Mizuho downgraded shares of SunPower from a “neutral” rating to an “underperform” rating and cut their price target for the company from $4.00 to $0.50 in a report on Friday, July 19th. Glj Research restated a “sell” rating and set a $1.61 price target on shares of SunPower in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group lowered 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.

SunPower Trading Down 5.5 %

SPWR opened at $0.12 on Monday. SunPower has a 12 month low of $0.09 and a 12 month high of $7.77. The company has a market cap of $21.53 million, a PE ratio of -0.09 and a beta of 1.86. The company has a 50 day moving average of $0.39 and a 200 day moving average of $1.89.

Hedge Funds Weigh In On SunPower

A number of large investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in SunPower by 530.1% during the 2nd quarter. SG Americas Securities LLC now owns 1,646,592 shares of the semiconductor company’s stock valued at $4,874,000 after buying an additional 1,385,270 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of SunPower by 16.4% during the first quarter. Quantbot Technologies LP now owns 124,096 shares of the semiconductor company’s stock worth $372,000 after purchasing an additional 17,464 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of SunPower during the first quarter worth about $932,000. Inspire Investing LLC grew its stake in shares of SunPower by 50.8% in the first quarter. Inspire Investing LLC now owns 119,449 shares of the semiconductor company’s stock worth $358,000 after purchasing an additional 40,223 shares during the last quarter. Finally, Wedmont Private Capital purchased a new position in SunPower during the 1st quarter valued at about $30,000. 47.36% of the stock is owned by hedge funds and other 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.