Investment analysts at StockNews.com initiated coverage on shares of SunPower (NASDAQ:SPWR – Get Free Report) in a report released on Tuesday. The brokerage set a “sell” rating on the semiconductor company’s stock.
Several other equities analysts have also commented on the company. The Goldman Sachs Group decreased their price target on SunPower from $2.00 to $0.50 and set a “sell” rating on the stock in a research note on Tuesday, July 23rd. Citigroup reduced their price target on shares of SunPower from $2.50 to $0.25 and set a “sell” rating on the stock in a research note on Friday, July 19th. Mizuho lowered SunPower from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $4.00 to $0.50 in a research note on Friday, July 19th. Susquehanna reduced their price target on shares of SunPower from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Glj Research restated a “sell” rating and issued a $1.61 price objective on shares of SunPower in a report on Tuesday, July 16th. Twelve research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, SunPower presently has an average rating of “Reduce” and a consensus target price of $3.48.
View Our Latest Research Report on SunPower
SunPower Price Performance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of SunPower by 18.3% in the 4th quarter. Victory Capital Management Inc. now owns 44,956 shares of the semiconductor company’s stock worth $217,000 after buying an additional 6,957 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of SunPower during the 1st quarter worth about $30,000. CIBC Asset Management Inc purchased a new stake in shares of SunPower during the second quarter worth about $38,000. First Trust Direct Indexing L.P. purchased a new position in shares of SunPower during the first quarter valued at approximately $46,000. Finally, Quantbot Technologies LP boosted its position in 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 acquiring an additional 17,464 shares during the last quarter. 47.36% of the stock is currently owned by institutional investors and hedge funds.
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.
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