SunPower Co. (SPWR) Sees Significant Growth in Short Interest

SunPower Co. (NASDAQ:SPWR) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 17,104,549 shares, a growth of 19.7% from the January 12th total of 14,295,174 shares. Based on an average daily volume of 3,837,430 shares, the short-interest ratio is presently 4.5 days. Currently, 28.7% of the shares of the company are short sold.

In related news, Director Catherine A. Lesjak sold 23,632 shares of SunPower stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total transaction of $177,240.00. Following the transaction, the director now directly owns 55,924 shares in the company, valued at $419,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of SPWR. Cortland Associates Inc. MO purchased a new position in SunPower in the third quarter worth about $109,000. Oppenheimer & Co. Inc. purchased a new position in SunPower in the third quarter worth about $112,000. HighTower Advisors LLC purchased a new position in SunPower in the second quarter worth about $124,000. WFG Advisors LP grew its position in SunPower by 7.6% in the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Clarus Wealth Advisors purchased a new position in SunPower in the fourth quarter worth about $148,000. 26.10% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on the company. Robert W. Baird raised SunPower from a “neutral” rating to an “outperform” rating and raised their price target for the company from $7.00 to $10.00 in a report on Monday, December 11th. BidaskClub raised SunPower from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Bank of America assumed coverage on SunPower in a report on Saturday, December 30th. They set a “neutral” rating on the stock. Guggenheim reissued a “hold” rating on shares of SunPower in a report on Thursday, January 18th. Finally, Zacks Investment Research cut SunPower from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. SunPower currently has an average rating of “Hold” and a consensus target price of $10.06.

Shares of SunPower (SPWR) traded up $0.06 during mid-day trading on Friday, hitting $6.85. The stock had a trading volume of 4,427,487 shares, compared to its average volume of 3,365,339. SunPower has a 1 year low of $5.84 and a 1 year high of $11.70. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $921.90, a PE ratio of -1.70 and a beta of 2.73.

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

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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.

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