SunPower (NASDAQ:SPWR) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of SunPower (NASDAQ:SPWR) in a report issued on Thursday morning. The firm issued a sell rating on the semiconductor company’s stock.

A number of other research firms have also recently issued reports on SPWR. Citigroup decreased their price target on shares of SunPower from $2.50 to $0.25 and set a sell rating for the company in a report on Friday, July 19th. Glj Research reiterated a sell rating and set a $1.61 price target on shares of SunPower in a research note on Tuesday, July 16th. Scotiabank reduced their price objective on SunPower from $6.00 to $4.00 and set a sector perform rating for the company in a research note on Monday, April 29th. Evercore ISI downgraded SunPower from an outperform rating to an inline rating and set a $6.00 target price for the company. in a report on Tuesday, April 23rd. Finally, Susquehanna cut their price target on shares of SunPower from $3.00 to $2.50 and set a neutral rating on the stock in a report on Monday, July 15th. Twelve research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Reduce and a consensus price target of $3.48.

SunPower Price Performance

SunPower has a 12 month low of $0.09 and a 12 month high of $7.77. The stock has a 50 day moving average of $1.80 and a 200 day moving average of $2.52.

Institutional Trading of SunPower

A number of institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC lifted 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 buying an additional 4,255 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of SunPower during the fourth quarter worth about $208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of SunPower by 75.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 279,738 shares of the semiconductor company’s stock worth $1,351,000 after purchasing an additional 120,489 shares during the last quarter. Federated Hermes Inc. lifted its stake in SunPower by 193.0% in the 4th 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 in the last quarter. Finally, abrdn plc increased its stake in SunPower by 83.7% during the 4th quarter. abrdn plc now owns 18,503 shares of the semiconductor company’s stock worth $89,000 after buying an additional 8,432 shares in the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

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.