In a report released today, Pavel Molchanov from Raymond James maintained a Hold rating on SunPower (SPWR). The company’s shares closed last Wednesday at $23.28.
According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 14.2% and a 59.4% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Clean Energy Fuels.
Currently, the analyst consensus on SunPower is a Hold with an average price target of $30.55, which is a 45.0% upside from current levels. In a report released today, Oppenheimer also assigned a Hold rating to the stock.
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Based on SunPower’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $342 million and net profit of $412 million. In comparison, last year the company earned revenue of $402 million and had a net profit of $5.44 million.
Based on the recent corporate insider activity of 53 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.
