According to Zacks, “SunPower is committed to provide high-performance solar power products to its customers. Besides, its strategic asset acquisition program and increasing production capacity should enable it to meet rising customer demand, while providing efficient but affordable services. However, a significant portion of SunPower’s revenues are exposed to foreign exchange fluctuations. Rising cost is another major headwind for the company given the constant need to come up with new and innovative technology. This has been hurting the company’s profit margin and thus calls for management to improve the overall capital structure. Over the last one year, the company lost more than the Zacks Categorized Solar industry’s loss”
A number of other equities research analysts have also recently weighed in on SPWR. J P Morgan Chase & Co reaffirmed a hold rating and set a $11.00 price target on shares of SunPower Corporation in a report on Thursday, November 10th. Bank of America Corporation cut SunPower Corporation from a buy rating to a neutral rating and cut their price target for the company from $20.00 to $10.00 in a report on Wednesday, November 9th. Robert W. Baird reaffirmed an outperform rating and set a $12.00 price target (down previously from $16.00) on shares of SunPower Corporation in a report on Thursday, November 10th. Barclays PLC reaffirmed an equal weight rating on shares of SunPower Corporation in a report on Thursday, November 10th. Finally, Vetr cut SunPower Corporation from a strong-buy rating to a buy rating and set a $8.42 price target on the stock. in a report on Wednesday, January 11th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. SunPower Corporation currently has a consensus rating of Hold and an average price target of $15.39.
Shares of SunPower Corporation (NASDAQ:SPWR) opened at 7.16 on Tuesday. The company has a 50-day moving average price of $6.97 and a 200-day moving average price of $8.50. The stock’s market cap is $991.07 million. SunPower Corporation has a 1-year low of $6.00 and a 1-year high of $25.29.
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In other SunPower Corporation news, insider Howard Wenger purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 12th. The shares were purchased at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the transaction, the insider now owns 215,078 shares in the company, valued at approximately $1,664,703.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.06% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in SunPower Corporation by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 21,139 shares of the company’s stock worth $327,000 after buying an additional 174 shares in the last quarter. CSS LLC IL raised its position in SunPower Corporation by 2.1% in the third quarter. CSS LLC IL now owns 18,106 shares of the company’s stock worth $162,000 after buying an additional 367 shares in the last quarter. Teacher Retirement System of Texas raised its position in SunPower Corporation by 28.6% in the second quarter. Teacher Retirement System of Texas now owns 8,613 shares of the company’s stock worth $133,000 after buying an additional 1,914 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in SunPower Corporation by 3.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 66,822 shares of the company’s stock worth $442,000 after buying an additional 2,130 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in SunPower Corporation by 25.8% in the third quarter. North Star Investment Management Corp. now owns 15,600 shares of the company’s stock worth $139,000 after buying an additional 3,200 shares in the last quarter. 29.91% of the stock is owned by hedge funds and other institutional investors.
SunPower Corporation Company Profile
SunPower Corporation is a global energy company. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: Residential Segment, Commercial Segment and Power Plant Segment. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements.
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