BidaskClub cut shares of SunPower (NASDAQ:SPWR) from a hold rating to a sell rating in a research note published on Tuesday.

A number of other research analysts have also recently commented on the stock. ValuEngine raised shares of SunPower from a sell rating to a hold rating in a research report on Saturday, June 2nd. Bank of America upped their target price on shares of SunPower from $8.00 to $8.50 and gave the company a neutral rating in a research report on Wednesday, April 18th. JPMorgan Chase & Co. decreased their target price on shares of SunPower from $9.50 to $8.50 and set a neutral rating on the stock in a research report on Thursday, June 7th. Robert W. Baird cut shares of SunPower from an outperform rating to a neutral rating and decreased their target price for the company from $10.00 to $7.00 in a research report on Monday, June 11th. Finally, Williams Capital upped their target price on shares of SunPower from $6.00 to $8.00 and gave the company a hold rating in a research report on Thursday, May 24th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $8.22.

Shares of SPWR opened at $6.64 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.75 and a debt-to-equity ratio of 9.81. SunPower has a 12-month low of $6.46 and a 12-month high of $10.00. The stock has a market capitalization of $1.01 billion, a P/E ratio of -16.20 and a beta of 2.22.

SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Monday, July 30th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.28. SunPower had a negative net margin of 60.01% and a positive return on equity of 1.37%. The firm had revenue of $449.09 million during the quarter, compared to analyst estimates of $389.86 million. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. SunPower’s quarterly revenue was up 36.9% on a year-over-year basis. equities research analysts anticipate that SunPower will post -1.55 EPS for the current year.

In other SunPower news, EVP Kenneth Lawrence Mahaffey sold 27,964 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $7.30, for a total value of $204,137.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SPWR. Two Sigma Advisers LP acquired a new stake in shares of SunPower during the fourth quarter worth about $207,000. MetLife Investment Advisors LLC acquired a new stake in shares of SunPower during the fourth quarter worth about $265,000. MUFG Securities EMEA plc lifted its position in shares of SunPower by 97.6% during the first quarter. MUFG Securities EMEA plc now owns 38,324 shares of the semiconductor company’s stock worth $306,000 after purchasing an additional 18,933 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of SunPower during the first quarter worth about $153,000. Finally, Swiss National Bank lifted its position in shares of SunPower by 7.8% during the first quarter. Swiss National Bank now owns 109,400 shares of the semiconductor company’s stock worth $873,000 after purchasing an additional 7,900 shares in the last quarter. 26.71% of the stock is currently owned by institutional investors and hedge funds.

About SunPower

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for SunPower (NASDAQ:SPWR)

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