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SunPower (NASDAQ:SPWR) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 11,076,740 shares, a drop of 10.5% from the July 15th total of 12,380,307 shares, American Banking News reports. Currently, 21.6% of the shares of the stock are sold short. Based on an average trading volume of 1,975,172 shares, the short-interest ratio is presently 5.6 days.

A number of analysts have recently weighed in on SPWR shares. Analysts at Zacks reiterated a “neutral” rating on shares of SunPower in a research note on Tuesday, August 5th. They now have a $36.00 price target on the stock. Separately, analysts at Cowen and Company reiterated an “outperform” rating on shares of SunPower in a research note on Friday, August 1st. Finally, analysts at Brean Capital upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $41.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. SunPower currently has an average rating of “Buy” and an average target price of $41.20.

Shares of SunPower (NASDAQ:SPWR) opened at 34.51 on Wednesday. SunPower has a 52-week low of $20.57 and a 52-week high of $42.07. The stock has a 50-day moving average of $37.77 and a 200-day moving average of $33.99. The company has a market cap of $4.525 billion and a price-to-earnings ratio of 26.04.

SunPower (NASDAQ:SPWR) last released its earnings data on Thursday, July 31st. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.02. The company had revenue of $621.10 million for the quarter, compared to the consensus estimate of $623.54 million. During the same quarter last year, the company posted $0.48 earnings per share. SunPower’s revenue was down 4.4% compared to the same quarter last year. Analysts expect that SunPower will post $1.30 EPS for the current fiscal year.

SunPower Corporation operates in two business segments: the Utility and Power Plants (NASDAQ:SPWR) Segment and the Residential and Commercial (R&C) Segment.

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