SunPower (NASDAQ:SPWR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of SunPower (NASDAQ:SPWR) in a research report sent to investors on Monday. The firm issued a sell rating on the semiconductor company’s stock.

A number of other brokerages also recently weighed in on SPWR. Glj Research reiterated a sell rating and issued a $1.61 target price on shares of SunPower in a report on Tuesday, July 16th. Citigroup lowered their target price on SunPower from $2.50 to $0.25 and set a sell rating for the company in a report on Friday, July 19th. Mizuho downgraded SunPower from a neutral rating to an underperform rating and lowered their target price for the stock from $4.00 to $0.50 in a report on Friday, July 19th. Susquehanna decreased their price objective on SunPower from $3.00 to $2.50 and set a neutral rating for the company in a report on Monday, July 15th. Finally, The Goldman Sachs Group decreased their price objective on SunPower from $2.00 to $0.50 and set a sell rating for the company in a report 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Reduce and an average price target of $3.48.

SunPower Stock Performance

Shares of SPWR stock opened at $0.12 on Monday. The company has a market cap of $21.53 million, a P/E ratio of -0.09 and a beta of 1.86. The stock has a 50 day simple moving average of $0.76 and a two-hundred day simple moving average of $2.08. SunPower has a fifty-two week low of $0.09 and a fifty-two week high of $7.77.

Institutional Investors Weigh In On SunPower

Several institutional investors have recently bought and sold shares of SPWR. Wedmont Private Capital purchased a new position in SunPower in the first quarter worth $30,000. CIBC Asset Management Inc purchased a new position in SunPower in the second quarter worth $38,000. First Trust Direct Indexing L.P. purchased a new position in SunPower in the first quarter worth $46,000. QRG Capital Management Inc. purchased a new position in SunPower in the fourth quarter worth $104,000. Finally, Intech Investment Management LLC purchased a new position in SunPower in the second quarter worth $159,000. Institutional investors own 47.36% of the company’s stock.

SunPower Company 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.