Analysts Set SunPower Co. (NASDAQ:SPWR) Price Target at $4.40

Shares of SunPower Co. (NASDAQ:SPWR) have earned an average rating of “Strong Sell” from the twenty-one brokerages that are presently covering the firm, Marketbeat reports. Twelve analysts have rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.05.

SPWR has been the topic of several analyst reports. Wolfe Research cut shares of SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 price target on the stock. in a research note on Wednesday, May 15th. Scotiabank decreased their price target on shares of SunPower from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Monday, April 29th. Glj Research reaffirmed a “sell” rating and set a $1.61 price target on shares of SunPower in a research note on Tuesday, July 16th. Susquehanna decreased their price target on shares of SunPower from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Mizuho cut shares of SunPower from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $4.00 to $0.50 in a research report on Friday, July 19th.

SunPower Stock Performance

NASDAQ:SPWR opened at $0.94 on Wednesday. The firm has a 50-day moving average price of $2.72 and a two-hundred day moving average price of $2.87. SunPower has a twelve month low of $0.50 and a twelve month high of $11.89.

Institutional Trading of SunPower

A number of hedge funds have recently made changes to their positions in SPWR. International Assets Investment Management LLC raised its stake in shares of SunPower by 383.0% during the fourth 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 during the period. Wedmont Private Capital purchased a new stake in shares of SunPower during the first quarter valued at approximately $30,000. First Trust Direct Indexing L.P. purchased a new stake in shares of SunPower during the first quarter valued at approximately $46,000. New Mexico Educational Retirement Board purchased a new stake in shares of SunPower during the first quarter valued at approximately $51,000. Finally, abrdn plc raised its stake in shares of SunPower by 83.7% during the fourth quarter. abrdn plc now owns 18,503 shares of the semiconductor company’s stock valued at $89,000 after purchasing an additional 8,432 shares during the period. Hedge funds and other institutional investors own 47.36% of the company’s stock.

About SunPower

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.