SunPower (NASDAQ:SPWR) PT Lowered to $0.50

SunPower (NASDAQ:SPWR) had its price objective cut by The Goldman Sachs Group from $2.00 to $0.50 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “sell” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 50.50% from the stock’s current price.

SPWR has been the subject of a number of other research reports. Citigroup decreased their price objective on shares of SunPower from $2.50 to $0.25 and set a “sell” rating for the company in a report on Friday, July 19th. Evercore ISI downgraded 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 lowered SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 target price on the stock. in a report on Wednesday, May 15th. Scotiabank lowered their price target on SunPower from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Monday, April 29th. Finally, Glj Research reiterated a “sell” rating and set a $1.61 price objective on shares of SunPower in a report on Tuesday, July 16th. Thirteen equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $4.05.

SunPower Trading Up 7.5 %

Shares of SPWR opened at $1.01 on Tuesday. The stock has a market cap of $177.11 million, a P/E ratio of -0.74 and a beta of 1.85. SunPower has a 1 year low of $0.50 and a 1 year high of $11.65. The stock’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.85.

Institutional Trading of SunPower

Large investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in SunPower by 55.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 113,593 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 40,309 shares during the period. SG Americas Securities LLC lifted its holdings in shares of SunPower by 530.1% during the second quarter. SG Americas Securities LLC now owns 1,646,592 shares of the semiconductor company’s stock valued at $4,874,000 after purchasing an additional 1,385,270 shares during the last quarter. Swedbank AB purchased a new position in shares of SunPower during the first quarter valued at approximately $368,000. Tidal Investments LLC grew its stake in shares of SunPower by 406.8% in the 1st quarter. Tidal Investments LLC now owns 53,943 shares of the semiconductor company’s stock worth $162,000 after buying an additional 43,299 shares during the last quarter. Finally, Caxton Associates LP bought a new position in SunPower during the 1st quarter valued at approximately $328,000. 47.36% of the stock is owned by institutional investors.

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.