SunPower (NASDAQ:SPWR) Rating Reaffirmed
New York: In analysts report sent to clients and investors on Monday, 21 December, Morgan Stanley has decided to restate their “Overweight” rating on SunPower (NASDAQ:SPWR) shares. They now have a $43 target PPS on the firm. Morgan Stanley’s target suggests a potential upside of 43.52% from the company’s last stock price.
From a total of 16 analysts covering SunPower (NASDAQ:SPWR) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $45 while the lowest target price is $23. The mean of all analyst targets is $36.07 with a 14.82% above today’s ($29.96) stock price. SunPower was the topic of 7 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Macquarie Research initiated shares on November 6 with “Outperform” rating. JP Morgan maintained SPWR stock in a recent report from September 21 with “Overweight” rating. Finally, Northland Capital maintained the stock with “Outperform” rating in a report issued on a July 29.
Approximately 820,818 shares of stock traded hands. SunPower Corporation (NASDAQ:SPWR) has declined 11.58% since May 18, 2015 and is downtrending. It has underperformed by 5.77% the S&P500.
The overall sentiment of institutions has decreased to 1.23 in Q2 2015. Its down 0.04, from 1.27 in 2015Q2. The ratio turned negative, as 27 institutions have sold all the shares of SunPower Corporation that they owned while 55 funds have taken shares off the table. 30 funds have purchased shares for the first time while 71 added to their positions. These institutions now hold 38.48 million shares or 7.38% less than the 41.54 million shares they owned in 2015Q2.
The Fund Ecofin Ltd currently is holding shares equating to 3.31% of its total portfolio in SunPower Corporation representing a total of 859,520 shares. Another fund,Quentec Asset Management Llc, is holding a total of 678,304 shares equating to 2.34% of their holdings. Additionally, Hellman Jordan Management Co Inc Ma has a 411,897 share stake in SunPower Corporation which represents 2.04% of their total portfolio. The Fund, Rothschild Capital Partners Llc, based out of Maryland, has also built up a stake in the stock, which represents a total of 1.53% of their total portfolio. Finally Westend Capital Management Llc, a fund which is based in the state of California reported a total holdings of 48,049 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 15, 2015, shareholders of SunPower Corporation have witnessed 0 buys, and a total of 4 selling transactions equating to a net activity of approximately $1.19 million . Wood Patrick Iii sold 30,000 shares worth approximately $689,100. Bodensteiner Lisa Marie sold 4,800 shares worth approximately $113,960. Branderiz Eric sold 2,369 shares worth approximately $59,225. Werner Thomas H sold 25,000 shares worth approximately $790,465. The company insider Wenger Howard sold 44,000 shares worth $1.42 million.
SunPower Corporation is a global energy company. The company has a market cap of $4.09 billion. The Firm provides design, manufacturing, installation, ongoing maintenance and monitoring and adjacent services. It has 84.08 P/E ratio. The Firm provides solar technology to residential, commercial and utility clients worldwide.
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.”