Wedmont Private Capital Invests $30,000 in SunPower Co. (NASDAQ:SPWR)

Wedmont Private Capital bought a new position in SunPower Co. (NASDAQ:SPWR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,919 shares of the semiconductor company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SPWR. Schroder Investment Management Group boosted its stake in SunPower by 18.8% in the 3rd quarter. Schroder Investment Management Group now owns 8,082,152 shares of the semiconductor company’s stock worth $49,867,000 after purchasing an additional 1,279,226 shares during the period. Vanguard Group Inc. boosted its position in shares of SunPower by 1.6% in the third quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock worth $58,266,000 after buying an additional 145,367 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 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 valued at $503,000 after buying an additional 45,145 shares in the last quarter. Federated Hermes Inc. raised its position in SunPower by 193.0% during the fourth quarter. Federated Hermes Inc. now owns 1,708,133 shares of the semiconductor company’s stock valued at $8,250,000 after buying an additional 1,125,231 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in SunPower by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 61,647 shares of the semiconductor company’s stock worth $300,000 after acquiring an additional 4,585 shares during the period. 47.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SPWR shares. The Goldman Sachs Group dropped their target price on SunPower from $2.25 to $2.00 and set a “sell” rating on the stock in a report on Wednesday, June 5th. Wolfe Research downgraded shares of SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 target price for the company. in a research report on Wednesday, May 15th. Susquehanna decreased their target price on shares of SunPower from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Friday, April 5th. Citigroup dropped their price target on shares of SunPower from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Thursday, March 28th. Finally, Mizuho reduced their price objective on SunPower from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Eleven equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $4.56.

SunPower Trading Up 2.2 %

SunPower stock opened at $2.78 on Monday. The business’s 50-day simple moving average is $2.73 and its 200-day simple moving average is $3.25. SunPower Co. has a 52 week low of $1.76 and a 52 week high of $12.18.

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.