SunPower Co. (NASDAQ:SPWR) Short Interest Update

SunPower Co. (NASDAQ:SPWR - Get Free Report) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 33,080,000 shares, a decrease of 16.5% from the May 15th total of 39,610,000 shares. Based on an average daily trading volume, of 10,250,000 shares, the short-interest ratio is currently 3.2 days.

Institutional Investors Weigh In On SunPower

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC raised its position in SunPower by 35.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 15,762 shares of the semiconductor company's stock worth $97,000 after acquiring an additional 4,118 shares during the period. International Assets Investment Management LLC raised its position in shares of SunPower by 383.0% during the 4th quarter. International Assets Investment Management LLC now owns 5,366 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 4,255 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of SunPower by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 61,647 shares of the semiconductor company's stock valued at $300,000 after purchasing an additional 4,585 shares during the period. Barclays PLC raised its position in shares of SunPower by 9.8% during the 3rd quarter. Barclays PLC now owns 52,243 shares of the semiconductor company's stock valued at $322,000 after purchasing an additional 4,671 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of SunPower by 32.3% during the 4th quarter. Handelsbanken Fonder AB now owns 26,200 shares of the semiconductor company's stock valued at $127,000 after purchasing an additional 6,400 shares during the period. Hedge funds and other institutional investors own 47.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SPWR. Susquehanna cut their price target on shares of SunPower from $4.50 to $3.00 and set a "neutral" rating for the company in a research report on Friday, April 5th. Mizuho cut their price target on shares of SunPower from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Friday, April 19th. Scotiabank lowered their price objective on shares of SunPower from $6.00 to $4.00 and set a "sector perform" rating for the company in a research note on Monday, April 29th. Guggenheim downgraded shares of SunPower from a "neutral" rating to a "sell" rating in a research note on Friday, February 16th. Finally, UBS Group upped their price objective on shares of SunPower from $4.00 to $4.25 and gave the company a "neutral" rating in a research note on Friday, February 16th. Eleven research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, SunPower has an average rating of "Reduce" and an average price target of $4.56.

SunPower Trading Down 9.8 %

SPWR stock traded down $0.31 on Friday, hitting $2.80. The company had a trading volume of 8,242,725 shares, compared to its average volume of 13,273,546. SunPower has a 12-month low of $1.76 and a 12-month high of $12.18. The stock's 50-day simple moving average is $2.71 and its 200 day simple moving average is $3.34. The stock has a market cap of $491.01 million, a price-to-earnings ratio of -2.04 and a beta of 1.99.

About SunPower

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.