Caxton Associates LP Invests $328,000 in SunPower Co. (NASDAQ:SPWR)

Caxton Associates LP acquired a new position in SunPower Co. (NASDAQ:SPWR) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 109,401 shares of the semiconductor company’s stock, valued at approximately $328,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in SunPower by 383.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 4,255 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of SunPower during the first quarter worth approximately $30,000. First Trust Direct Indexing L.P. acquired a new stake in shares of SunPower during the first quarter worth approximately $46,000. New Mexico Educational Retirement Board acquired a new stake in shares of SunPower during the first quarter worth approximately $51,000. Finally, abrdn plc grew its position in shares of SunPower by 83.7% during the fourth quarter. abrdn plc now owns 18,503 shares of the semiconductor company’s stock worth $89,000 after buying an additional 8,432 shares in the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPWR. Citigroup reduced their price objective on SunPower from $2.50 to $0.25 and set a “sell” rating on the stock in a research note on Friday, July 19th. Glj Research restated a “sell” rating and set a $1.61 price objective on shares of SunPower in a research note on Tuesday, July 16th. Evercore ISI cut SunPower from an “outperform” rating to an “inline” rating and set a $6.00 price objective on the stock. in a research note on Tuesday, April 23rd. Wolfe Research cut SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group reduced their price objective on SunPower from $2.00 to $0.50 and set a “sell” rating on the stock in a research note on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, SunPower has an average rating of “Reduce” and a consensus price target of $3.48.

SunPower Price Performance

NASDAQ:SPWR traded up $0.02 during mid-day trading on Tuesday, reaching $0.83. 8,546,874 shares of the stock were exchanged, compared to its average volume of 12,003,130. The business has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.79. SunPower Co. has a 1-year low of $0.50 and a 1-year high of $10.30.

SunPower Profile

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.