Mizuho lowered shares of SunPower (NASDAQ:SPWR – Free Report) from a neutral rating to an underperform rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. They currently have $0.50 target price on the semiconductor company’s stock, down from their prior target price of $4.00.
A number of other research analysts also recently issued reports on the stock. Scotiabank dropped their price target on shares of SunPower from $6.00 to $4.00 and set a sector perform rating on the stock in a research report on Monday, April 29th. Susquehanna dropped 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. Evercore ISI downgraded shares of SunPower from an outperform rating to an inline rating and set a $6.00 price target on the stock. in a research report on Tuesday, April 23rd. Glj Research restated a sell rating and issued a $1.61 price target on shares of SunPower in a research report on Tuesday, July 16th. Finally, 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 report on Thursday, March 28th. Thirteen research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Reduce and a consensus price target of $4.12.
Read Our Latest Research Report on SunPower
SunPower Stock Performance
Institutional Trading of SunPower
Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP increased its stake in SunPower by 16.4% during the 1st quarter. Quantbot Technologies LP now owns 124,096 shares of the semiconductor company’s stock valued at $372,000 after purchasing an additional 17,464 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in SunPower during the 1st quarter valued at $932,000. Inspire Investing LLC increased its stake in SunPower by 50.8% during the 1st quarter. Inspire Investing LLC now owns 119,449 shares of the semiconductor company’s stock valued at $358,000 after purchasing an additional 40,223 shares in the last quarter. Vanguard Group Inc. increased its stake in SunPower by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,443,481 shares of the semiconductor company’s stock valued at $58,266,000 after purchasing an additional 145,367 shares in the last quarter. Finally, Wedmont Private Capital bought a new stake in SunPower during the 1st quarter valued at $30,000. Institutional investors own 47.36% of the company’s stock.
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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