SunPower (SPWR) Cut to Sell at BidaskClub

SunPower (NASDAQ:SPWR) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other analysts have also recently commented on the stock. Guggenheim reiterated a “hold” rating on shares of SunPower in a research note on Thursday. Zacks Investment Research cut shares of SunPower from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Bank of America began coverage on shares of SunPower in a research report on Saturday, December 30th. They set a “neutral” rating for the company. Robert W. Baird raised shares of SunPower from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $7.00 to $10.00 in a research report on Monday, December 11th. Finally, ValuEngine lowered shares of SunPower from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. SunPower currently has a consensus rating of “Hold” and a consensus price target of $9.85.

Shares of SunPower (SPWR) opened at $8.65 on Friday. The company has a market cap of $1,193.33, a P/E ratio of -2.15 and a beta of 3.16. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.02. SunPower has a 12 month low of $5.84 and a 12 month high of $11.70.

SunPower (NASDAQ:SPWR) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.60. The company had revenue of $477.20 million during the quarter, compared to analysts’ expectations of $383.76 million. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. SunPower’s revenue for the quarter was down 34.6% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. analysts anticipate that SunPower will post -0.77 earnings per share for the current fiscal year.

In other SunPower news, Director Catherine A. Lesjak sold 23,632 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $7.50, for a total transaction of $177,240.00. Following the completion of the transaction, the director now directly owns 55,924 shares of the company’s stock, valued at approximately $419,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% of the company’s stock.

Several large investors have recently bought and sold shares of the company. WFG Advisors LP increased its holdings in shares of SunPower by 7.6% during the 2nd quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock valued at $145,000 after purchasing an additional 1,100 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of SunPower by 8.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,084 shares of the semiconductor company’s stock valued at $216,000 after purchasing an additional 1,730 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of SunPower by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 114,172 shares of the semiconductor company’s stock valued at $1,066,000 after purchasing an additional 2,599 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SunPower by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,390,856 shares of the semiconductor company’s stock valued at $12,991,000 after purchasing an additional 3,841 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of SunPower by 13.6% during the 2nd quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 5,610 shares in the last quarter. 25.39% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “SunPower (SPWR) Cut to Sell at BidaskClub” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/01/20/sunpower-spwr-cut-to-sell-at-bidaskclub.html.

SunPower 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.

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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

Leave a Reply