Stock Worth Watching: Could SunPower Corporation Gain Strenght? The Stock Reaches 1 Year Low

Stock Worth Watching: Could SunPower Corporation Gain Strenght? The Stock Reaches 1 Year Low

The stock of SunPower Corporation (NASDAQ:SPWR) is a huge mover today! About 936,882 shares traded hands. SunPower Corporation (NASDAQ:SPWR) has declined 64.16% since March 4, 2016 and is downtrending. It has underperformed by 72.20% the S&P500.
The move comes after 8 months negative chart setup for the $1.17 billion company. It was reported on Oct, 7 by Barchart.com. We have $7.69 PT which if reached, will make NASDAQ:SPWR worth $105.30M less.

Analysts await SunPower Corporation (NASDAQ:SPWR) to report earnings on October, 26. They expect $0.67 EPS, up 2,133.33% or $0.64 from last year’s $0.03 per share. SPWR’s profit will be $92.77 million for 3.15 P/E if the $0.67 EPS becomes a reality. After $-0.33 actual EPS 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 31 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Wednesday, July 27 the stock rating was upgraded by Guggenheim to “Buy”. As per Friday, November 6, the company rating was initiated by Macquarie Research. The rating was upgraded by UBS on Wednesday, July 6 to “Buy”. Northland Capital initiated the stock with “Outperform” rating in Friday, February 26 report. Oppenheimer downgraded it to “Perform” rating and $39 target price in Wednesday, August 10 report. Mizuho initiated the stock with “Neutral” rating in Thursday, March 31 report. Barclays Capital upgraded the stock to “Overweight” rating in Friday, January 22 report. The stock has “Market Perform” rating given by Wells Fargo on Thursday, June 2. The firm has “Equal Weight” rating given on Tuesday, September 1 by Barclays Capital. Northland Capital maintained the stock with “Outperform” rating in Wednesday, July 29 report.

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 2016 Q2. Its up 0.13, from 1.08 in 2016Q1. The ratio increased, 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.
Caxton Assocs Ltd Partnership holds 0.03% or 65,000 shares in its portfolio. Blackrock Institutional Na owns 1.40M shares or 0% of their US portfolio. State Street has invested 0% of its portfolio in SunPower Corporation (NASDAQ:SPWR). Allianz Asset Mgmt Ag has invested 0% of its portfolio in SunPower Corporation (NASDAQ:SPWR). California Employees Retirement Systems last reported 0.01% of its portfolio in the stock. Ladenburg Thalmann Financial Incorporated last reported 0% of its portfolio in the stock. Natixis Asset last reported 0.05% of its portfolio in the stock. Guggenheim Lc has invested 0.04% of its portfolio in SunPower Corporation (NASDAQ:SPWR). Investec Asset Mngmt Limited owns 823,785 shares or 0.07% of their US portfolio. Citadel Advisors Limited Liability Corp has invested 0% of its portfolio in SunPower Corporation (NASDAQ:SPWR). Delta Lloyd Nv holds 0.57% of its portfolio in SunPower Corporation (NASDAQ:SPWR) for 1.10M shares. Jane Street Ltd Liability Corporation has 0% invested in the company for 49,390 shares. Mark Sheptoff Planning Ltd Liability holds 100 shares or 0% of its portfolio. Wellington Mngmt Llp reported 16.78M shares or 0.07% of all its holdings. Creative Planning last reported 0% 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 10% in September” on October 05, 2016, also Globenewswire.com published article titled: “SUNPOWER INVESTOR REMINDER: Hagens Berman Reminds Investors in SunPower …”, Schaeffersresearch.com published: “Wall Street Whacks First Solar, Inc., SunPower Corporation” on September 08, 2016. More interesting news about SunPower Corporation (NASDAQ:SPWR) was released by: Seekingalpha.com and their article: “A Closer Look At SunPower” with publication date: September 29, 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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