The stock of SunPower Corporation (NASDAQ:SPWR) is a huge mover today! About 1.13M shares traded hands. SunPower Corporation (NASDAQ:SPWR) has declined 68.24% since April 13, 2016 and is downtrending. It has underperformed by 72.16% the S&P500.
The move comes after 9 months positive chart setup for the $1.03B company. It was reported on Nov, 15 by Barchart.com. We have $9.87 PT which if reached, will make NASDAQ:SPWR worth $422.30 million more.
SunPower Corporation (NASDAQ:SPWR) Ratings Coverage
Out of 19 analysts covering SunPower (NASDAQ:SPWR), 6 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 32% are positive. SunPower has been the topic of 33 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Wednesday, July 27, the company rating was upgraded by Guggenheim. On Tuesday, September 8 the stock rating was initiated by Oppenheimer with “Outperform”. The firm has “Outperform” rating given on Friday, February 26 by Northland Capital. The firm earned “Equal Weight” rating on Tuesday, September 1 by Barclays Capital. JMP Securities initiated the shares of SPWR in a report on Thursday, September 8 with “Mkt Underperform” rating. The firm earned “Neutral” rating on Wednesday, August 10 by Credit Suisse. As per Thursday, June 2, the company rating was initiated by Wells Fargo. The stock of SunPower Corporation (NASDAQ:SPWR) earned “Outperform” rating by Macquarie Research on Friday, November 6. The stock of SunPower Corporation (NASDAQ:SPWR) earned “Overweight” rating by Barclays Capital on Friday, January 22. Guggenheim initiated the stock with “Neutral” rating in Wednesday, April 13 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.
Voya Inv Management Ltd Llc last reported 0% of its portfolio in the stock. Trillium Asset Mgmt Limited Liability Company holds 0.09% of its portfolio in SunPower Corporation (NASDAQ:SPWR) for 91,091 shares. The New York-based Burns J W And New York has invested 0.08% in SunPower Corporation (NASDAQ:SPWR). Lord Abbett Communication Limited Liability Company holds 686,423 shares or 0.03% of its portfolio. Moreover, Zevin Asset Mgmt Ltd Limited Liability Company has 0.12% invested in SunPower Corporation (NASDAQ:SPWR) for 28,390 shares. Van Hulzen Asset Management Ltd Llc holds 50,755 shares or 0.45% of its portfolio. Susquehanna Interest Llp has 0.01% invested in the company for 734,759 shares. Kings Point Cap reported 900 shares or 0% of all its holdings. Gam Holdg Ag holds 0.1% or 420,318 shares in its portfolio. Valley National Advisers, a Pennsylvania-based fund reported 54 shares. Aperio Group Inc Limited Co, a California-based fund reported 74,051 shares. The Illinois-based Citadel Advsrs Ltd Liability Company has invested 0% in SunPower Corporation (NASDAQ:SPWR). Eventide Asset Management Limited Liability, a Massachusetts-based fund reported 1.00M shares. Blackrock accumulated 0% or 17,322 shares. Moreover, Firsthand Capital Management has 0.34% invested in SunPower Corporation (NASDAQ:SPWR) for 19,931 shares.
More important recent SunPower Corporation (NASDAQ:SPWR) news were published by: Fool.com which released: “SunPower Corporation Going Into Survival Mode” on November 13, 2016, also Fool.com published article titled: “Why SunPower Corporation’s Shares Plunged 12% Today”, 247Wallst.com published: “SunPower Cost-Cutting Doesn’t Impress Investors” on November 09, 2016. More interesting news about SunPower Corporation (NASDAQ:SPWR) was released by: Valuewalk.com and their article: “Solaredge Technologies Inc, SunPower Corporation Shares Move Lower On Earnings” with publication date: November 09, 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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