The stock of SunPower Corporation (NASDAQ:SPWR) is a huge mover today! About 2.13 million shares traded hands. SunPower Corporation (NASDAQ:SPWR) has declined 65.71% since March 2, 2016 and is downtrending. It has underperformed by 73.97% the S&P500.
The move comes after 5 months positive chart setup for the $1.15 billion company. It was reported on Oct, 5 by Barchart.com. We have $12.41 PT which if reached, will make NASDAQ:SPWR worth $471.50M more.
Analysts await SunPower Corporation (NASDAQ:SPWR) to report earnings on October, 26. They expect $0.67 earnings per share, up 2,133.33% or $0.64 from last year’s $0.03 per share. SPWR’s profit will be $87.56M for 3.28 P/E if the $0.67 EPS becomes a reality. After $-0.33 actual earnings per share reported by SunPower Corporation for the previous quarter, Wall Street now forecasts -303.03% EPS growth.
SunPower Corporation (NASDAQ:SPWR) Ratings Coverage
Out of 18 analysts covering SunPower (NASDAQ:SPWR), 7 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 39% are positive. SunPower has been the topic of 30 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of SunPower Corporation (NASDAQ:SPWR) earned “Buy” rating by UBS on Wednesday, August 10. The rating was maintained by Northland Capital on Wednesday, July 29 with “Outperform”. The stock of SunPower Corporation (NASDAQ:SPWR) earned “Neutral” rating by Janney Capital on Wednesday, August 10. The firm earned “Equal Weight” rating on Tuesday, September 1 by Barclays Capital. The stock has “Perform” rating given by Oppenheimer on Wednesday, August 10. The firm has “Overweight” rating given on Monday, December 21 by Morgan Stanley. The company was downgraded on Wednesday, August 10 by Credit Suisse. The stock has “Outperform” rating given by Northland Capital on Friday, February 26. Guggenheim initiated SunPower Corporation (NASDAQ:SPWR) on Wednesday, April 13 with “Neutral” rating. As per Wednesday, August 10, the company rating was downgraded by JP Morgan.
According to Zacks Investment Research, “SunPower Corp. designs and manufactures high-efficiency silicon solar cells and solar panels based on an all-back contact cell design. SunPower’s solar cells and panels generate electricity from sunlight for residential, commercial and remote power applications. Its proprietary all back contact silicon solar cell technology produces more power per square foot compared to conventional solar cells.”
Insitutional Activity: The institutional sentiment increased to 1.21 in Q2 2016. Its up 0.13, from 1.08 in 2016Q1. The ratio improved, as 27 funds sold all SunPower Corporation shares owned while 48 reduced positions. 20 funds bought stakes while 71 increased positions. They now own 51.40 million shares or 0.09% less from 51.44 million shares in 2016Q1.
Whittier Trust last reported 0% of its portfolio in the stock. Rhumbline Advisers holds 45,352 shares or 0% of its portfolio. Morgan Stanley has invested 0% of its portfolio in SunPower Corporation (NASDAQ:SPWR). Icm Asset Wa holds 126,790 shares or 2.86% of its portfolio. Reilly Fincl Advsr Limited Liability Company holds 54 shares or 0% of its portfolio. Intl Grp Inc Inc has 1,926 shares for 0% of their US portfolio. Moreover, Firsthand Cap Mgmt has 0.34% invested in SunPower Corporation (NASDAQ:SPWR) for 19,931 shares. Cubist Systematic Strategies Limited Company accumulated 24,892 shares or 0.02% of the stock. Moreover, Toronto Dominion Commercial Bank has 0% invested in SunPower Corporation (NASDAQ:SPWR) for 68,517 shares. Lord Abbett Ltd has 686,423 shares for 0.03% of their US portfolio. Burns J W Communications Ny holds 0.08% of its portfolio in SunPower Corporation (NASDAQ:SPWR) for 17,400 shares. Washington Trust Financial Bank has 1,190 shares for 0% of their US portfolio. California State Teachers Retirement System, a California-based fund reported 125,049 shares. Sg Americas Securities Lc holds 38,296 shares or 0% of its portfolio. Commerzbank Aktiengesellschaft Fi last reported 0.01% of its portfolio in the stock.
More important recent SunPower Corporation (NASDAQ:SPWR) news were published by: Fool.com which released: “Why SunPower Corporation’s Shares Plunged 32% Last Month” on September 09, 2016, also Schaeffersresearch.com published article titled: “Analyst Downgrades: Gigamon Inc, SunPower Corporation, and Weatherford …”, Seekingalpha.com published: “A Closer Look At SunPower” on September 29, 2016. More interesting news about SunPower Corporation (NASDAQ:SPWR) was released by: Schaeffersresearch.com and their article: “Gloomy Day Attracts First Solar, Inc., SunPower Corporation Options Traders” with publication date: September 14, 2016.
SPWR Company Profile
SunPower Corporation (SunPower), incorporated on May 25, 2004, is a global energy company. The Firm provides solar technology to residential, commercial and utility clients worldwide. The Firm operates through three divisions: Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation. The Firm sells panels and balance of system components, primarily to dealers, system integrators and distributors. It designs, makes, and sells rooftop and ground-mounted solar power systems under construction and development agreements. The Firm offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase.
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