SunPower (NASDAQ:SPWR – Free Report) had its target price reduced by The Goldman Sachs Group from $2.00 to $0.50 in a research note released on Tuesday morning, Benzinga reports. They currently have a sell rating on the semiconductor company’s stock.
SPWR has been the topic of several other research reports. Evercore ISI downgraded SunPower from an outperform rating to an inline rating and set a $6.00 price target on the stock. in a research note on Tuesday, April 23rd. Glj Research restated a sell rating and issued a $1.61 target price on shares of SunPower in a research note on Tuesday, July 16th. Scotiabank reduced their price target on SunPower from $6.00 to $4.00 and set a sector perform rating for the company in a research report on Monday, April 29th. Wolfe Research downgraded shares of SunPower from a peer perform rating to an underperform rating and set a $2.00 price objective on the stock. in a report on Wednesday, May 15th. Finally, Citigroup reduced their target price on shares of SunPower from $2.50 to $0.25 and set a sell rating for the company in a report on Friday, July 19th. Twelve analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Reduce and an average target price of $3.91.
Read Our Latest Analysis on SPWR
SunPower Stock Down 13.1 %
Institutional Investors Weigh In On SunPower
A number of large investors have recently modified their holdings of SPWR. International Assets Investment Management LLC lifted its position in shares of SunPower by 383.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company’s stock worth $26,000 after buying an additional 4,255 shares during the last quarter. Wedmont Private Capital bought a new position in SunPower in the first quarter valued at about $30,000. First Trust Direct Indexing L.P. acquired a new position in SunPower during the first quarter worth about $46,000. New Mexico Educational Retirement Board bought a new position in shares of SunPower in the first quarter worth about $51,000. Finally, abrdn plc boosted its stake in shares of SunPower by 83.7% in the 4th quarter. abrdn plc now owns 18,503 shares of the semiconductor company’s stock valued at $89,000 after purchasing an additional 8,432 shares in the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.
SunPower Company Profile
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.
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