SunPower Corporation (NASDAQ:SPWR) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 13,412,726 shares, a decrease of 12.2% from the August 15th total of 15,269,806 shares. Based on an average daily volume of 1,876,144 shares, the short-interest ratio is presently 7.1 days. Approximately 22.7% of the company’s shares are short sold.

Several brokerages recently commented on SPWR. BidaskClub lowered shares of SunPower Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $13.00 price target (up previously from $10.00) on shares of SunPower Corporation in a research report on Wednesday, August 2nd. Cowen and Company set a $12.00 price target on shares of SunPower Corporation and gave the stock a “buy” rating in a research report on Friday, August 11th. ValuEngine raised shares of SunPower Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of SunPower Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.48.

Large investors have recently added to or reduced their stakes in the company. Delta Lloyd Asset Management N.V. bought a new position in shares of SunPower Corporation in the second quarter valued at approximately $2,895,000. Karp Capital Management Corp bought a new position in shares of SunPower Corporation in the first quarter valued at approximately $838,000. California Public Employees Retirement System raised its position in shares of SunPower Corporation by 2.6% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $4,169,000 after purchasing an additional 17,200 shares during the period. Shelter Mutual Insurance Co raised its position in shares of SunPower Corporation by 1,018.2% in the second quarter. Shelter Mutual Insurance Co now owns 177,800 shares of the semiconductor company’s stock valued at $1,661,000 after purchasing an additional 161,900 shares during the period. Finally, KCG Holdings Inc. raised its position in shares of SunPower Corporation by 62.0% in the first quarter. KCG Holdings Inc. now owns 64,927 shares of the semiconductor company’s stock valued at $396,000 after purchasing an additional 24,841 shares during the period. 28.84% of the stock is currently owned by institutional investors.

SunPower Corporation (SPWR) opened at 8.56 on Friday. SunPower Corporation has a 52 week low of $5.84 and a 52 week high of $11.70. The stock has a 50 day moving average of $9.33 and a 200 day moving average of $8.19. The stock’s market capitalization is $1.19 billion.

SunPower Corporation (NASDAQ:SPWR) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.24. SunPower Corporation had a negative net margin of 21.84% and a negative return on equity of 12.56%. The company had revenue of $341.50 million for the quarter, compared to analyst estimates of $312.58 million. During the same quarter last year, the firm posted ($0.22) earnings per share. The company’s quarterly revenue was down 15.0% compared to the same quarter last year. On average, equities research analysts predict that SunPower Corporation will post ($0.99) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Short Interest in SunPower Corporation (SPWR) Declines By 12.2%” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/09/15/short-interest-in-sunpower-corporation-spwr-declines-by-12-2.html.

SunPower Corporation Company Profile

SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.

Receive News & Ratings for SunPower Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower Corporation and related companies with MarketBeat.com's FREE daily email newsletter.