Analysts Set SunPower Co. (NASDAQ:SPWR) PT at $4.56

Shares of SunPower Co. (NASDAQ:SPWR) have been given an average rating of “Reduce” by the twenty brokerages that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.56.

SPWR has been the subject of several research reports. Wolfe Research cut shares of SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 price objective for the company. in a research note on Wednesday, May 15th. Citigroup cut their price objective on shares of SunPower from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Thursday, March 28th. Evercore ISI lowered SunPower from an “outperform” rating to an “inline” rating and set a $6.00 target price on the stock. in a research report on Tuesday, April 23rd. The Goldman Sachs Group cut their target price on shares of SunPower from $2.25 to $2.00 and set a “sell” rating on the stock in a research note on Wednesday, June 5th. Finally, Mizuho dropped their price target on SunPower from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in shares of SunPower by 383.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 4,255 shares during the period. Wedmont Private Capital purchased a new position in SunPower during the 1st quarter valued at about $30,000. First Trust Direct Indexing L.P. acquired a new position in shares of SunPower in the 1st quarter valued at about $46,000. New Mexico Educational Retirement Board acquired a new position in SunPower in the 1st quarter valued at approximately $51,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of SunPower in the third quarter worth $76,000. Institutional investors and hedge funds own 47.36% of the company’s stock.

SunPower Trading Up 0.4 %

SunPower stock opened at $2.66 on Friday. The firm has a market capitalization of $466.46 million, a P/E ratio of -1.94 and a beta of 1.99. The stock has a fifty day moving average price of $2.75 and a 200 day moving average price of $3.22. SunPower has a 52 week low of $1.76 and a 52 week high of $12.18.

SunPower Company 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.