New York State Teachers Retirement System raised its stake in shares of SunPower Co. (NASDAQ:SPWR – Free Report) by 4.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 113,900 shares of the semiconductor company’s stock after purchasing an additional 4,863 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of SunPower worth $1,116,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE boosted its stake in SunPower by 108.8% during the 1st quarter. US Bancorp DE now owns 2,376 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,238 shares during the last quarter. AXS Investments LLC bought a new position in shares of SunPower during the 1st quarter worth approximately $38,000. PNC Financial Services Group Inc. lifted its position in shares of SunPower by 66.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock worth $96,000 after buying an additional 1,792 shares in the last quarter. National Bank of Canada FI lifted its position in shares of SunPower by 48.1% during the 1st quarter. National Bank of Canada FI now owns 4,620 shares of the semiconductor company’s stock worth $64,000 after buying an additional 1,500 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of SunPower during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 47.36% of the company’s stock.
SunPower Stock Performance
SunPower stock opened at $4.96 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $868.94 million, a PE ratio of 16.53 and a beta of 1.91. The firm has a fifty day simple moving average of $6.41 and a two-hundred day simple moving average of $9.31. SunPower Co. has a twelve month low of $4.73 and a twelve month high of $24.97.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on SPWR shares. Robert W. Baird cut shares of SunPower from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $24.00 to $12.00 in a research report on Thursday, July 27th. Susquehanna lowered their price target on shares of SunPower from $14.00 to $8.00 and set a “positive” rating on the stock in a report on Monday, October 2nd. StockNews.com assumed coverage on shares of SunPower in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Piper Sandler lowered their target price on shares of SunPower from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, October 13th. Finally, Barclays lowered their target price on shares of SunPower from $9.00 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, October 18th. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.55.
Read Our Latest Stock Analysis on SunPower
SunPower Profile
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.
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