Barclays analyst Christine Cho CFA downgraded SunPower (SPWR – Research Report) to a Sell today and set a price target of $18.00. The company’s shares closed yesterday at $16.22.
According to TipRanks, Cho CFA is a 2-star analyst with an average return of 0.7% and a 48.72% success rate.
Currently, the analyst consensus on SunPower is a Hold with an average price target of $21.75.
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SPWR market cap is currently $2.86B and has a P/E ratio of 52.01.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPWR in relation to earlier this year.
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SunPower Corp. engages in the design, manufacture and deliver of solar panels and systems. It operates through the SunPower Energy Services and SunPower Technologies segments: The SunPower Energy Services Segment deals with the sales of solar energy solutions in the North America region including direct sales of turn-key engineering, procurement and construction. The SunPower Technologies Segment involves technology development, worldwide solar panel manufacturing operations, equipment supply to resellers, commercial and residential end-customers outside of North America. The company was founded by Thomas L. Dinwoodie, Robert Lorenzini and Richard M. Swanson in April 1985 and is headquartered in San Jose, CA.
Read More on SPWR:
- SunPower put volume heavy and directionally bearish
- SunPower price target raised to $21 from $16 at Deutsche Bank
- RMI launches virtual power plant partnership with GM, Google, Ford
- SunPower upgraded to Equal Weight from Underweight at Wells Fargo
- SunPower, Maxeon Solar extend current supply relationship