Bank of Nova Scotia grew its stake in SunPower Co. (NASDAQ:SPWR – Get Rating) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,590 shares of the semiconductor company’s stock after purchasing an additional 9,400 shares during the quarter. Bank of Nova Scotia’s holdings in SunPower were worth $588,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of SunPower in the first quarter valued at about $15,318,000. Millennium Management LLC increased its stake in SunPower by 370.4% in the 2nd quarter. Millennium Management LLC now owns 887,523 shares of the semiconductor company’s stock valued at $14,032,000 after buying an additional 698,844 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in SunPower by 203.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 762,502 shares of the semiconductor company’s stock valued at $16,379,000 after buying an additional 511,085 shares during the last quarter. Moore Capital Management LP purchased a new position in shares of SunPower in the 3rd quarter worth approximately $8,182,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SunPower by 418.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 396,733 shares of the semiconductor company’s stock worth $9,141,000 after buying an additional 320,221 shares during the last quarter. Hedge funds and other institutional investors own 36.07% of the company’s stock.
Insider Transactions at SunPower
In other SunPower news, CEO Peter Faricy bought 7,500 shares of SunPower stock in a transaction that occurred on Thursday, March 16th. The stock was acquired at an average cost of $13.29 per share, for a total transaction of $99,675.00. Following the completion of the transaction, the chief executive officer now directly owns 177,458 shares in the company, valued at $2,358,416.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.
Wall Street Analysts Forecast Growth
SunPower Stock Performance
NASDAQ SPWR opened at $10.27 on Wednesday. The company’s 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $16.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.44 and a quick ratio of 0.88. SunPower Co. has a 1 year low of $9.37 and a 1 year high of $28.42. The stock has a market capitalization of $1.80 billion, a PE ratio of 79.01, a P/E/G ratio of 2.47 and a beta of 1.87.
SunPower Company Profile
SunPower Corp. engages in the design, manufacture, and delivery of solar panels and systems. The company provides fully integrated solar, storage, and home energy solutions. The company was founded by Thomas L. Dinwoodie, Robert Lorenzini and Richard M. Swanson in April 1985 and is headquartered in Richmond, CA.
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