Teza Capital Management LLC Buys New Position in SunPower Co. (NASDAQ:SPWR)

Teza Capital Management LLC bought a new stake in shares of SunPower Co. (NASDAQ:SPWR – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,276 shares of the semiconductor company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pathstone Family Office LLC boosted its position in shares of SunPower by 15.8% during the 3rd quarter. Pathstone Family Office LLC now owns 48,142 shares of the semiconductor company’s stock valued at $1,108,000 after purchasing an additional 6,583 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in SunPower by 23.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 41,968 shares of the semiconductor company’s stock worth $967,000 after acquiring an additional 7,943 shares in the last quarter. Quadrature Capital Ltd bought a new position in SunPower in the third quarter worth approximately $764,000. Essex Investment Management Co. LLC boosted its holdings in SunPower by 7.9% in the third quarter. Essex Investment Management Co. LLC now owns 74,199 shares of the semiconductor company’s stock worth $1,710,000 after acquiring an additional 5,420 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in SunPower in the third quarter worth approximately $3,651,000. Institutional investors own 36.07% of the company’s stock.

SunPower Trading Down 5.1 %

Shares of SPWR opened at $14.66 on Monday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 56.38, a PEG ratio of 1.26 and a beta of 1.87. The stock has a 50 day moving average of $16.54 and a 200 day moving average of $20.03. SunPower Co. has a 12 month low of $12.78 and a 12 month high of $28.42.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SPWR shares. Truist Financial cut their price target on SunPower from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, February 15th. Scotiabank started coverage on SunPower in a report on Thursday, March 2nd. They issued a “sector perform” rating and a $20.00 price target on the stock. Wolfe Research initiated coverage on SunPower in a report on Tuesday, December 13th. They issued a “peer perform” rating on the stock. Morgan Stanley lowered their price objective on SunPower from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 10th. Finally, Citigroup initiated coverage on SunPower in a research note on Thursday. They issued a “neutral” rating and a $16.50 price objective for the company. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SunPower currently has an average rating of “Hold” and a consensus target price of $19.85.

About SunPower

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SunPower Corp. engages in the design, manufacture, and delivery of solar panels and systems. It operates through the Dev Co and Power Co segments. The Dev Co segment refers to the solar origination and installation revenue stream as sale of solar power systems. The Power Co segment deals with the post system sale and recurring services revenue.