Susquehanna Lowers SunPower (NASDAQ:SPWR) Price Target to $2.50

SunPower (NASDAQ:SPWR) had its target price cut by stock analysts at Susquehanna from $3.00 to $2.50 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective indicates a potential downside of 7.06% from the stock’s previous close.

Several other equities analysts also recently weighed in on SPWR. Scotiabank reduced their target price on shares of SunPower from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Monday, April 29th. The Goldman Sachs Group reduced their price objective on shares of SunPower from $2.25 to $2.00 and set a “sell” rating for the company in a research note on Wednesday, June 5th. Wolfe Research cut shares of SunPower from a “peer perform” rating to an “underperform” rating and set a $2.00 price objective for the company. in a research note on Wednesday, May 15th. Evercore ISI cut shares of SunPower from an “outperform” rating to an “inline” rating and set a $6.00 price objective for the company. in a research note on Tuesday, April 23rd. Finally, Citigroup reduced their price objective on shares of SunPower from $3.00 to $2.50 and set a “sell” rating for the company in a research note on Thursday, March 28th. Twelve equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $4.40.

SunPower Stock Up 7.6 %

SPWR opened at $2.69 on Monday. The company has a market capitalization of $471.72 million, a price-to-earnings ratio of -1.96 and a beta of 1.86. The firm has a 50-day moving average price of $2.87 and a 200-day moving average price of $2.98. SunPower has a twelve month low of $1.76 and a twelve month high of $12.18.

Institutional Investors Weigh In On SunPower

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in SunPower by 530.1% during the 2nd quarter. SG Americas Securities LLC now owns 1,646,592 shares of the semiconductor company’s stock valued at $4,874,000 after buying an additional 1,385,270 shares during the last quarter. Swedbank AB bought a new stake in SunPower during the 1st quarter valued at $368,000. Tidal Investments LLC raised its holdings in SunPower by 406.8% during the 1st quarter. Tidal Investments LLC now owns 53,943 shares of the semiconductor company’s stock valued at $162,000 after buying an additional 43,299 shares during the last quarter. Caxton Associates LP bought a new stake in SunPower during the 1st quarter valued at $328,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in SunPower by 30.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,583 shares of the semiconductor company’s stock valued at $248,000 after buying an additional 19,501 shares during the last quarter. 47.36% of the stock is currently 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.