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

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

Several other brokerages have also recently issued reports on SPWR. Scotiabank cut their price objective on SunPower from $6.00 to $4.00 and set a sector perform rating on the stock in a research note on Monday, April 29th. 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. Mizuho downgraded shares of SunPower from a neutral rating to an underperform rating and lowered their target price for the stock from $4.00 to $0.50 in a research report on Friday, July 19th. Wolfe Research downgraded SunPower from a peer perform rating to an underperform rating and set a $2.00 target price on the stock. in a research report on Wednesday, May 15th. Finally, Susquehanna cut their price target on shares of SunPower from $3.00 to $2.50 and set a neutral rating for the company in a research note on Monday, July 15th. 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, the company presently has an average rating of Reduce and an average target price of $3.48.

SunPower Price Performance

SPWR stock opened at $0.12 on Thursday. SunPower has a 12-month low of $0.09 and a 12-month high of $7.77. The stock has a 50-day moving average price of $1.80 and a two-hundred day moving average price of $2.52.

Hedge Funds Weigh In On SunPower

Several institutional investors and hedge funds have recently made changes to their positions in SPWR. International Assets Investment Management LLC lifted its position in SunPower by 383.0% in the 4th quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 4,255 shares in the last quarter. Wedmont Private Capital bought a new stake in SunPower in the 1st quarter valued at $30,000. CIBC Asset Management Inc bought a new stake in SunPower in the 2nd quarter valued at $38,000. First Trust Direct Indexing L.P. bought a new stake in SunPower in the 1st quarter valued at $46,000. Finally, New Mexico Educational Retirement Board bought a new stake in SunPower in the 1st quarter valued at $51,000. Institutional investors and hedge funds 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.