SunPower Corporation (SPWR) is Upgraded by Guggenheim to Buy

SunPower Corporation (SPWR) was Upgraded by Guggenheim to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Guggenheim advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on SunPower Corporation. SunPower Corporation was Initiated by Wells Fargo to “Market Perform” on Jun 2, 2016. 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 .

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.

SunPower Corporation closed down -0.56 points or -3.62% at $14.92 with 18,78,029 shares getting traded on Thursday. Post opening the session at $15.55, the shares hit an intraday low of $14.9 and an intraday high of $15.72 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Mar 22, 2016, Eric Branderiz (SVP and Prin Acct Off) sold 6,365 shares at $25.00 per share price. According to the SEC, on Mar 14, 2016, Thomas H Werner (Director, Pres and CEO) sold 10,000 shares at $22.70 per share price. On Mar 11, 2016, Douglas J. Richards (EVP, Administration) sold 47,348 shares at $22.73 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

SunPower Corporation

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