Quadrature Capital Ltd Invests $762,000 in SunPower Co. (NASDAQ:SPWR)

Quadrature Capital Ltd acquired a new position in shares of SunPower Co. (NASDAQ:SPWR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 157,867 shares of the semiconductor company’s stock, valued at approximately $762,000. Quadrature Capital Ltd owned 0.09% of SunPower at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of SunPower during the fourth quarter worth approximately $294,000. Olympiad Research LP bought a new stake in SunPower during the fourth quarter worth approximately $479,000. IPG Investment Advisors LLC bought a new stake in SunPower during the fourth quarter worth approximately $483,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in SunPower by 67.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 111,696 shares of the semiconductor company’s stock worth $503,000 after purchasing an additional 45,145 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in SunPower during the fourth quarter worth approximately $104,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.

SunPower Stock Up 2.2 %

Shares of NASDAQ:SPWR opened at $2.78 on Friday. The company’s fifty day moving average is $2.73 and its two-hundred day moving average is $3.28. SunPower Co. has a 12-month low of $1.76 and a 12-month high of $12.18. The company has a market cap of $487.50 million, a P/E ratio of -2.03 and a beta of 1.99.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SPWR shares. Citigroup dropped their target price on SunPower from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Thursday, March 28th. Scotiabank dropped their target price on SunPower from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Monday, April 29th. Mizuho dropped their target price on SunPower from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Wolfe Research cut SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 target price on the stock. in a report on Wednesday, May 15th. Finally, Susquehanna dropped their price target on SunPower from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, April 5th. Eleven analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $4.56.

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.