Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of SunPower by 30.9% during the 2nd quarter. IMPAX ASSET MANAGEMENT LTD owned 13.56% of SunPower Corporation (SPWR) worth $26.13 million at the end of the most recent reporting period.The investor is now holding 3,077,896 shares thanks to an increase of 367,582 new shares in their portfolio. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $9.82. Van ECK Associates Corp now owns 114,172 shares of the semiconductor company's stock worth $1,066,000 after acquiring an additional 2,599 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SunPower by 0.3% in the second quarter. WFG Advisors LP now owns 15,550 shares of the semiconductor company's stock valued at $145,000 after purchasing an additional 1,100 shares during the period. Finally, Shelter Mutual Insurance Co boosted its holdings in SunPower by 1,018.2% in the second quarter. Legal & General Group Plc now owns 18,245 shares of the semiconductor company's stock valued at $171,000 after purchasing an additional 14,755 shares in the last quarter.
Sunpower Corporation (NASDAQ:SPWR) shares traded 11.54% up during most recent session to reach at the closing price of $9.47. The short sellers then promise to replace the stock in the future and makes dividend payments out of their own pockets to cover the dividend income that is no longer exists on the original, now borrowed and sold, shares. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the past twelve months, SunPower Corporation (NASDAQ:SPWR)'s stock was 12.34%.
Shares of SunPower Co. (SPWR) opened at $8.49 on Thursday. The stock exchanged hands 6.21 Million shares versus average trading capacity of 2.99 Million shares, yielding a market cap of $1.33 Billion.
Sunpower Corporation (NASDAQ:SPWR) 52-week high price stands at $11.70 and low price stands at $5.84, its price distance from 52-week high is -19.06% while its distance from 52-week low price is 62.16%. For the current year the company's revenue estimates are $2.1 Billion compared to low analyst estimates of $1.9 Billion and high estimates of $2.24 Billion according to 10 number of analysts.
Previously Sunpower Corporation (NASDAQ:SPWR) reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $-0.39 by $0.6. The consensus mean EPS for the current quarter is at $0.1 derived from a total of 11 estimates from the analysts who have weighed in on projected earnings. SunPower had a negative net margin of 24.91% and a negative return on equity of 20.81%. The firm had revenue of $477.20 million during the quarter, compared to analyst estimates of $383.76 million. During the same period in the prior year, the firm earned $0.68 earnings per share. During the same quarter in the previous year, the company posted $0.68 earnings per share.
Other equities analysts also recently issued research reports about the company. Baird reaffirmed a "hold" rating and set a $7.00 price target on shares of SunPower in a research note on Friday, September 1st. ValuEngine raised SunPower from a "sell" rating to a "hold" rating in a research report on Saturday, November 4th. Zacks Investment Research downgraded SunPower from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Bank of America started coverage on shares of SunPower in a report on Friday, December 22nd. BidaskClub upgraded shares of SunPower from a "hold" rating to a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have assigned a buy recommendation to the company. SunPower now has a consensus rating of "Hold" and an average target price of $9.85.
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