The stock of SunPower Corporation (NASDAQ:SPWR) hit a new 52-week low and has $5.78 target or 8.00% below today’s $6.28 share price. The 5 months bearish chart indicates high risk for the $897.63 million company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $5.78 price target is reached, the company will be worth $71.81M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 5.04M shares traded hands or 92.37% up from the average. SunPower Corporation (NASDAQ:SPWR) has declined 65.68% since April 7, 2016 and is downtrending. It has underperformed by 70.47% the S&P500.
SunPower Corporation (NASDAQ:SPWR) Ratings Coverage
Out of 19 analysts covering SunPower (NASDAQ:SPWR), 7 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 37% are positive. SunPower has been the topic of 32 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Wednesday, November 9 the stock rating was downgraded by Bank of America to “Neutral”. The stock has “Neutral” rating given by JP Morgan on Wednesday, August 10. The rating was downgraded by Oppenheimer on Wednesday, August 10 to “Perform”. The firm has “Hold” rating by Williams Capital Group given on Friday, September 30. UBS upgraded the stock to “Buy” rating in Wednesday, July 6 report. Morgan Stanley maintained the shares of SPWR in a report on Monday, December 21 with “Overweight” rating. The firm has “Buy” rating given on Wednesday, July 27 by Guggenheim. The company was downgraded on Friday, August 12 by Morgan Stanley. Deutsche Bank downgraded the shares of SPWR in a report on Wednesday, August 10 to “Hold” rating. The stock of SunPower Corporation (NASDAQ:SPWR) has “Overweight” rating given on Friday, January 22 by Barclays Capital.
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 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.
Employees Retirement Association Of Colorado accumulated 0% or 14,433 shares. New York State Common Retirement Fund reported 156,300 shares or 0% of all its holdings. Zevin Asset Mngmt Ltd Limited Liability Company accumulated 0.12% or 28,390 shares. Glenmede Trust Na accumulated 243 shares or 0% of the stock. Shelter Mutual Insur holds 0.84% of its portfolio in SunPower Corporation (NASDAQ:SPWR) for 177,800 shares. Ckw Financial Grp, a Hawaii-based fund reported 100 shares. Tru Com Of Vermont has 0% invested in the company for 2,305 shares. The Pennsylvania-based Pnc Financial Svcs Incorporated has invested 0% in SunPower Corporation (NASDAQ:SPWR). Winfield Assocs, a Ohio-based fund reported 500 shares. Utah Retirement accumulated 10,500 shares or 0% of the stock. Moreover, Firsthand Capital Inc has 0.34% invested in SunPower Corporation (NASDAQ:SPWR) for 19,931 shares. Manufacturers Life Ins Communication The accumulated 0% or 3,912 shares. Goldman Sachs Group Incorporated has 0% invested in the company for 139,195 shares. Invesco has 0% invested in the company for 437,587 shares. The Massachusetts-based Eventide Asset Management Lc has invested 0.95% in SunPower Corporation (NASDAQ:SPWR).
More news for SunPower Corporation (NASDAQ:SPWR) were recently published by: Fool.com, which released: “Why SunPower Corporation’s Shares Plunged 12% Today” on November 03, 2016. Seekingalpha.com‘s article titled: “SunPower: Disastrous Recent Quarters Mask Long-Term Strengths” and published on October 26, 2016 is yet another important article.
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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