SunPower (NASDAQ:SPWR) Earns Neutral Rating from Analysts at Guggenheim

Guggenheim initiated coverage on shares of SunPower (NASDAQ:SPWRGet Rating) in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating on the semiconductor company’s stock.

SPWR has been the topic of a number of other reports. StockNews.com started coverage on shares of SunPower in a report on Wednesday, October 12th. They issued a sell rating on the stock. Piper Sandler cut their price target on shares of SunPower from $23.00 to $21.00 and set a neutral rating on the stock in a research note on Tuesday, July 19th. Raymond James increased their price target on shares of SunPower from $22.00 to $25.00 and gave the stock an outperform rating in a report on Wednesday, August 3rd. Susquehanna increased their price objective on shares of SunPower from $25.00 to $27.00 in a report on Wednesday, November 9th. Finally, TheStreet upgraded shares of SunPower from a d+ rating to a c rating in a research report on Tuesday, August 23rd. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $21.81.

SunPower Price Performance

SPWR stock opened at $22.34 on Thursday. SunPower has a 1 year low of $12.78 and a 1 year high of $33.44. The firm has a 50-day moving average of $21.63 and a 200 day moving average of $19.91. The company has a market cap of $3.89 billion, a P/E ratio of 67.70 and a beta of 1.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.31 and a quick ratio of 0.94.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise grew its position in SunPower by 19.5% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,067 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 500 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of SunPower by 2.9% in the second quarter. Victory Capital Management Inc. now owns 18,898 shares of the semiconductor company’s stock worth $299,000 after acquiring an additional 540 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of SunPower by 2.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 24,873 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 618 shares in the last quarter. Xponance Inc. lifted its position in shares of SunPower by 5.3% in the second quarter. Xponance Inc. now owns 12,841 shares of the semiconductor company’s stock valued at $203,000 after acquiring an additional 646 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in SunPower by 20.7% during the first quarter. Exchange Traded Concepts LLC now owns 4,642 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 796 shares during the period. Hedge funds and other institutional investors own 36.61% of the company’s stock.

SunPower Company Profile

(Get Rating)

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.

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Analyst Recommendations for SunPower (NASDAQ:SPWR)

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