Oppenheimer Maintains a Hold Rating on SunPower (SPWR)

By Austin Angelo

Oppenheimer analyst Colin Rusch maintained a Hold rating on SunPower (SPWRResearch Report) today. The company’s shares closed last Thursday at $7.26.

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 20.1% and a 51.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as SolarEdge Technologies, Westport Fuel Systems, and Canadian Solar.

Currently, the analyst consensus on SunPower is a Hold with an average price target of $8.59.

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Based on SunPower’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $604 million and net profit of $5.44 million. In comparison, last year the company earned revenue of $457 million and had a GAAP net loss of $158 million.

Based on the recent corporate insider activity of 64 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.