SunPower Corporation (SPWR) was Downgraded by Deutsche Bank to ” Hold” while Lowering the Price Target of the company shares to $ 11 from a previous price target of $37 . Earlier the firm had a rating of “Buy ” on the company shares. Deutsche Bank advised their investors in a research report released on Aug 10, 2016.
Many Wall Street Analysts have commented on SunPower Corporation. SunPower Corporation was Upgraded by Guggenheim to ” Buy” on Jul 27, 2016. SunPower Corporation was Initiated by Wells Fargo to “Market Perform” on Jun 2, 2016.
On the company’s financial health, SunPower Corporation reported $-0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.24. The company had revenue of $401.80 million for the quarter, compared to analysts expectations of $347.70 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.
SunPower Corporation opened for trading at $15.32 and hit $15.61 on the upside on Monday, eventually ending the session at $15.3, with a gain of 1.19% or 0.18 points. The heightened volatility saw the trading volume jump to 16,41,648 shares. Company has a market cap of $2,112 M.
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.