SunPower (NASDAQ:SPWR – Free Report) had its price objective trimmed by Citigroup from $2.50 to $0.25 in a research note released on Friday, Benzinga reports. The firm currently has a sell rating on the semiconductor company’s stock.
A number of other research analysts also recently commented on the company. Susquehanna lowered their target price on SunPower from $3.00 to $2.50 and set a neutral rating for the company in a research report on Monday, July 15th. Evercore ISI downgraded SunPower from an outperform rating to an inline rating and set a $6.00 target price for the company. in a research report on Tuesday, April 23rd. Glj Research reiterated a sell rating and set a $1.61 target price on shares of SunPower in a research report on Tuesday, July 16th. The Goldman Sachs Group lowered their target price on SunPower from $2.25 to $2.00 and set a sell rating for the company in a research report on Wednesday, June 5th. Finally, Wolfe Research downgraded SunPower from a peer perform rating to an underperform rating and set a $2.00 target price for the company. in a research report on Wednesday, May 15th. Thirteen equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat.com, SunPower has a consensus rating of Reduce and a consensus target price of $4.12.
Read Our Latest Research Report on SunPower
SunPower Stock Performance
Institutional Trading of SunPower
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in SunPower by 530.1% in the second quarter. SG Americas Securities LLC now owns 1,646,592 shares of the semiconductor company’s stock worth $4,874,000 after purchasing an additional 1,385,270 shares during the period. Swedbank AB purchased a new position in shares of SunPower during the first quarter valued at $368,000. Tidal Investments LLC increased its stake in shares of SunPower by 406.8% during the first 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 period. Caxton Associates LP purchased a new position in shares of SunPower during the first quarter valued at $328,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of SunPower by 30.9% during the first 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 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.
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