Ecofin Ltd buys $26.7 Million stake in SunPower Corporation (SPWR)

SunPower Corporation (SPWR) : Ecofin Ltd scooped up 563,896 additional shares in SunPower Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,604,546 shares of SunPower Corporation which is valued at $26.7 Million.SunPower Corporation makes up approximately 4.52% of Ecofin Ltd’s portfolio.

Other Hedge Funds, Including , Hsbc Holdings Plc sold out all of its stake in SPWR during the most recent quarter. The investment firm sold 5,604 shares of SPWR which is valued $93,082.Group One Trading reduced its stake in SPWR by selling 46,879 shares or 90.72% in the most recent quarter. The Hedge Fund company now holds 4,797 shares of SPWR which is valued at $79,678. SunPower Corporation makes up approx 0.01% of Group One Trading’s portfolio.Spot Trading L.l.c reduced its stake in SPWR by selling 46,348 shares or 96.0% in the most recent quarter. The Hedge Fund company now holds 1,933 shares of SPWR which is valued at $32,107.Aperio Group reduced its stake in SPWR by selling 8,052 shares or 9.12% in the most recent quarter. The Hedge Fund company now holds 80,205 shares of SPWR which is valued at $1.6 Million. SunPower Corporation makes up approx 0.01% of Aperio Group’s portfolio.

SunPower Corporation opened for trading at $17.16 and hit $17.69 on the upside on Wednesday, eventually ending the session at $17.57, with a gain of 3.11% or 0.53 points. The heightened volatility saw the trading volume jump to 22,43,676 shares. Company has a market cap of $2,425 M.

On the company’s financial health, SunPower Corporation reported $-0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.23. The company had revenue of $433.60 million for the quarter, compared to analysts expectations of $328.76 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on SunPower Corporation. Shares were Reiterated by Barclays on May 10, 2016 to “Overweight” and Lowered the Price Target to $ 23 from a previous price target of $32 .SunPower Corporation was Initiated by Guggenheim to “Neutral” on Apr 13, 2016. Mizuho Initiated SunPower Corporation on Mar 31, 2016 to “Neutral”, Price Target of the shares are set at $25.

SunPower Corporation (SunPower) is a global energy company. The Company provides design manufacturing installation ongoing maintenance and monitoring and adjacent services. The Company provides solar technology to residential commercial and utility customers worldwide. The Company operates through three segments: the Americas Segment the EMEA Segment and the APAC Segment. The Company offers solar power components solar power systems and residential leases. The Company sells panels and balance of system components primarily to dealers system integrators and distributors. The Company designs manufactures and sells rooftop and ground-mounted solar power systems under construction and development agreements. The Company offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase.

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