SunPower (NASDAQ:SPWR) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of SunPower (NASDAQ:SPWR) in a report released on Tuesday. The firm issued a sell rating on the semiconductor company’s stock.

A number of other research firms have also recently issued reports on SPWR. The Goldman Sachs Group cut 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. Glj Research reaffirmed a sell rating and issued a $1.61 target price on shares of SunPower in a research note on Tuesday, July 16th. Mizuho downgraded shares of SunPower from a neutral rating to an underperform rating and decreased their price target for the stock from $4.00 to $0.50 in a research note on Friday, July 19th. Susquehanna lowered their price objective on shares of SunPower from $3.00 to $2.50 and set a neutral rating for the company in a report on Monday, July 15th. Finally, Citigroup reduced their target price on shares of SunPower from $2.50 to $0.25 and set a sell rating on the stock in a report on Friday, July 19th. Twelve equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Reduce and an average price target of $3.48.

SunPower Price Performance

Shares of SunPower stock opened at $0.12 on Tuesday. The company has a 50 day simple moving average of $0.39 and a two-hundred day simple moving average of $1.91. The firm has a market cap of $21.53 million, a PE ratio of -0.09 and a beta of 1.86. SunPower has a 1 year low of $0.09 and a 1 year high of $7.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SPWR. Wedmont Private Capital bought a new position in SunPower in the first quarter worth $30,000. CIBC Asset Management Inc purchased a new stake in shares of SunPower in the 2nd quarter worth about $38,000. First Trust Direct Indexing L.P. bought a new position in shares of SunPower in the 1st quarter worth about $46,000. Intech Investment Management LLC purchased a new position in SunPower during the 2nd quarter valued at about $159,000. Finally, Tidal Investments LLC boosted its stake in SunPower by 406.8% during the first quarter. Tidal Investments LLC now owns 53,943 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 43,299 shares in the last quarter. 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.