SunPower (NASDAQ:SPWR – Get Rating) had its target price raised by investment analysts at Evercore ISI to $32.00 in a research report issued on Tuesday, Stock Target Advisor reports. Evercore ISI's target price points to a potential upside of 40.91% from the stock's previous close.
Several other equities research analysts have also commented on SPWR. UBS Group boosted their target price on shares of SunPower from $17.00 to $22.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 3rd. Barclays started coverage on shares of SunPower in a research report on Friday, August 5th. They set an "equal weight" rating and a $26.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of SunPower from $25.00 to $22.00 and set an "underweight" rating on the stock in a research report on Thursday, October 20th. Morgan Stanley decreased their target price on shares of SunPower from $31.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Friday, October 21st. Finally, TheStreet raised SunPower from a "d+" rating to a "c" rating in a research note on Tuesday, August 23rd. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.79.
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Shares of NASDAQ SPWR traded up $0.68 during trading on Tuesday, hitting $22.71. 3,844,112 shares of the company were exchanged, compared to its average volume of 3,544,600. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 68.82 and a beta of 1.75. SunPower has a 1 year low of $12.78 and a 1 year high of $32.20. The firm's fifty day moving average price is $21.62 and its 200 day moving average price is $19.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.31 and a quick ratio of 1.06.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in shares of SunPower by 370.4% during the 2nd quarter. Millennium Management LLC now owns 887,523 shares of the semiconductor company's stock valued at $14,032,000 after acquiring an additional 698,844 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of SunPower by 7.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 837,569 shares of the semiconductor company's stock valued at $19,298,000 after acquiring an additional 58,212 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SunPower by 203.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 762,502 shares of the semiconductor company's stock valued at $16,379,000 after acquiring an additional 511,085 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of SunPower during the 2nd quarter valued at about $10,623,000. Finally, Renaissance Technologies LLC acquired a new position in shares of SunPower during the 1st quarter valued at about $15,318,000. Institutional investors and hedge funds own 36.61% of the company's stock.About SunPower
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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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