Virtu Financial LLC Buys New Stake in SunPower Co. (NASDAQ:SPWR)

Virtu Financial LLC purchased a new stake in SunPower Co. (NASDAQ:SPWR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 60,792 shares of the semiconductor company’s stock, valued at approximately $294,000.

Several other large investors also recently bought and sold shares of the stock. Olympiad Research LP purchased a new stake in shares of SunPower in the 4th quarter valued at about $479,000. IPG Investment Advisors LLC purchased a new stake in SunPower in the fourth quarter valued at approximately $483,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of SunPower by 67.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 111,696 shares of the semiconductor company’s stock valued at $503,000 after acquiring an additional 45,145 shares during the period. QRG Capital Management Inc. purchased a new position in shares of SunPower during the fourth quarter worth approximately $104,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in SunPower during the 4th quarter worth $213,000. Institutional investors and hedge funds own 47.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SPWR shares. Mizuho reduced their target price on shares of SunPower from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Evercore ISI cut SunPower from an “outperform” rating to an “inline” rating and set a $6.00 price objective for the company. in a research report on Tuesday, April 23rd. Susquehanna dropped their target price on SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, April 5th. The Goldman Sachs Group decreased their price target on SunPower from $2.25 to $2.00 and set a “sell” rating for the company in a report on Wednesday, June 5th. Finally, Scotiabank dropped their price objective on shares of SunPower from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Monday, April 29th. Eleven equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $4.56.

SunPower Stock Down 3.9 %

SunPower stock opened at $2.72 on Friday. The firm has a market capitalization of $476.98 million, a PE ratio of -1.99 and a beta of 1.99. SunPower Co. has a 52 week low of $1.76 and a 52 week high of $12.18. The firm’s 50-day simple moving average is $2.73 and its 200 day simple moving average is $3.29.

SunPower 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.