SunPower (SPWR) is Downgraded by Goldman to Neutral

SunPower (SPWR) is Downgraded by Goldman to Neutral , according to the research report released to the investors. Earlier the firm had a rating of Buy on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

SunPower Corporation is up 47.54% in the last 3-month period. Year-to-Date the stock performance stands at 16.18%.

SunPower Corporation (NASDAQ:SPWR) has dropped 2.47% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 12.48% in the last 4 weeks. The shares have underperformed the S&P 500 by 1.66% during the past week but SunPower Corporation (NASDAQ:SPWR) has outperformed the index in 4 weeks by 15.11%.

Shares of SunPower Corporation (NASDAQ:SPWR) ended Thursday session in red amid volatile trading. The shares closed down 0.37 points or 1.22% at $30.01 with 1,052,051 shares getting traded. Post opening the session at $30, the shares hit an intraday low of $29.85 and an intraday high of $30.49 and the price vacillated in this range throughout the day. The company has a market cap of $4,099 million and the number of outstanding shares have been calculated to be 136,593,180 shares. The 52-week high of SunPower Corporation (NASDAQ:SPWR) is $35.11 and the 52-week low is $18.25.

Currently the company Insiders own 0.82% of SunPower Corporation shares according to the proxy statements. Institutional Investors own 31.33% of SunPower Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -14.6%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Bodensteiner Lisa Marie, (EVP & General Counsel) of Sunpower Corp, unloaded 4,800 shares at an average price of $23.74 on September 10, 2015. The total amount of the transaction was worth $113,952, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

SunPower Corporation is a solar electric systems manufacturer. The Company operates in two business segments: the Utility and Power Plants (UPP) Segment and the Residential and Commercial (R&C) Segment. The UPP Segment refers to its solar products and systems business, which includes power plant project development and project sales, turn-key engineering, procurement and construction (EPC) services for power plant construction, and power plant operations and maintenance (O&M) services. The R&C Segment focuses on solar equipment sales into the residential and small commercial market through its third-party global dealer network, as well as direct sales and EPC and O&M services in the United States and Europe for rooftop and ground-mounted solar power systems for the new homes, commercial and public sectors. It also offers a line of integrated microinverter technologies for the solar industry for the residential customers.