In a report issued Friday, the analysts at ValuEngine have dropped the SunPower Corporation (NASDAQ:$SPWR) rating from ‘Hold’ to ‘Sell’.
SunPower is an energy company that operates globally. They focus on selling solar solutions to power plants, commercial, and residential customers.
SunPower opened Friday trading with a price of $7.37. The company has a 50 and 200-day moving averages of $9.09 and $8.18 respectively. They also have a 52 week high of $11.70 and a 52 week low of $5.84. Their market cap is currently sitting at $1.03 million.
The company has also been evaluated by a number of other analysts recently;
- BidaskClub released a report on July 25th that dropped their rating from ‘Buy’ to ‘Hold’.
- Deutsche Bank AG (NYSE:$DB) released a report on August 2nd giving the company a ‘Hold’ rating and increasing the target price from $6.00 to $9.00.
- Oppenheimer Holdings, Inc (NYSE:$OPY) also released a report on August 2nd that restated an ‘Outperform’ rating and increased their target price from $10.00 to $13.00.
- Robert W. Baird released a report on September 1st that restated a ‘Hold’ rating with a target price of $7.00.
- Finally, Cowen and Company released a report on September 17th that restated a ‘Buy’ rating and set their target price to $12.00
Overall, the company has 12 ‘Hold’ ratings, 6 ‘Buy’ ratings, and 1 ‘Sell’ rating, giving it an overall consensus of ‘Hold’. The average target price is $9.48.
On August 1, the company posted its quarterly earnings with a $0.39 EPS, beating the Zacks Investment Management consensus by $0.24 at $0.63. The company also reported a negative Return on Equity of 12.56% and an overall negative net Margin of 21.84%. The firm also had revenue of $341.50 million, breaking the analyst forecasts of $312.58 million.
The company had a $0.22 EPS during the same quarter last year. They experienced a 15.0% drop in revenue on a year-to-year basis. Current forecasts predict a $1.00 EPS for SunPower in the current fiscal year.
Institutional trading of SunPower also took place recently;
- Quantbot Technologies LP acquired an additional 12.360 shares for a total of 15,986 shares valued at $149,000, an increase of 340.9%
- WFG Advisors LP acquired 1,100 shares, increasing their total shares to 15,550 with a value of $145,000 and an increase of 7.6%.
- Candriam Luxembourg S.C.A. bought a new stake in the company worth approximately $130,00.
- HighTower Advisors LLC purchased a new stake in the company worth approximately $124,000.
- CAPROCK Group, Inc. increased its share in the company with an additional 128 shares for a total of 11,941 shares worth $112,000, an increase of 1.1%.
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