According to a research note published on Jan 5, 2016, analysts at Goldman have lowered their rating on the company stock from Buy to Neutral. Mizuho’s price objective would indicate a potential upside of 211.23% from the stock’s previous close. On year trading price range hit the peak level of $31.10 and touched the lowest level of $13.29 and its distance from 52 week high is -50.80% and current price is above +15.12% from 52 week low.
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On Tuesday SunPower Corporation (NASDAQ:SPWR) share price closed at $14.78.
The company expects its year-end revenue to remain between $2.8 billion and $3 billion.
No. 1 residential installer SolarCity (SCTY) mirrored SunPower (SPWR) late Tuesday with Q3 guidance that lagged analysts’ expectations, and narrower-than-expected Q2 losses on sales that crushed Wall Street’s model. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. Gross margin declined to 9.8% from 18.6%, while revenue increased to Dollars 420.5 million from USD 381 million.
Over the past five trading sessions shares of SunPower Corporation (NASDAQ:SPWR) are 5.37%; 2.55% for the month; -9.2% for the last quarter; -34.62% for the past six-months; and -39.02% for the last 12 months. Guggenheim initiated coverage on shares of SunPower Corp.in a research report on Tuesday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Robert W. Baird reaffirmed a “buy” rating on shares of SunPower Corp.in a report on Sunday, May 8th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $17.00) on shares of SunPower Corp.in a research report on Monday, May 9th. The most expectant earnings per share estimate of the stock is set at $1.9 while the conservative estimates kept at $0.56 over the current year. The mean price target is calculated keeping in view the consensus of 15 brokerage firms.
A number of hedge funds and institutional investors have recently bought and sold shares of the stock.
SunPower stock fell more than 25% to $10.99, in pre-market hours. Westend Capital Management LLC increased its position in SunPower Corp.by 2.4% in the first quarter. DNB Asset Management AS now owns 2,073,760 shares of the company’s stock worth $32,123,000 after buying an additional 570,958 shares during the period. Ladenburg Thalmann Financial Services Inc. now owns 11,934 shares of the company’s stock valued at $267,000 after buying an additional 2,035 shares in the last quarter.
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SunPower Corporation is a global energy company. The Company provides solar technology to residential commercial and utility customers worldwide.
