New Harbor Financial Group Lowers stake in SunPower Corporation (SPWR)

SunPower Corporation (SPWR) : New Harbor Financial Group reduced its stake in SunPower Corporation by 99.13% during the most recent quarter end. The investment management company now holds a total of 200 shares of SunPower Corporation which is valued at $1,640 after selling 22,870 shares in SunPower Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in SPWR by selling 13 shares or 8.23% in the most recent quarter. The Hedge Fund company now holds 145 shares of SPWR which is valued at $1,189. Simplex Trading sold out all of its stake in SPWR during the most recent quarter. The investment firm sold 9,246 shares of SPWR which is valued $77,297.Burns J W Co Incny boosted its stake in SPWR in the latest quarter, The investment management firm added 4,000 additional shares and now holds a total of 21,400 shares of SunPower Corporation which is valued at $189,176. SunPower Corporation makes up approx 0.06% of Burns J W Co Incny’s portfolio.

SunPower Corporation closed down -0.34 points or -3.96% at $8.24 with 17,68,335 shares getting traded on Tuesday. Post opening the session at $8.5, the shares hit an intraday low of $8.23 and an intraday high of $8.6 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, SunPower Corporation reported $-0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.24. The company had revenue of $401.80 million for the quarter, compared to analysts expectations of $347.70 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on SunPower Corporation. Williams Capital Group Initiated SunPower Corporation on Sep 30, 2016 to “Hold”, Price Target of the shares are set at $9.SunPower Corporation was Initiated by JMP Securities to “Mkt Underperform” on Sep 8, 2016. SunPower Corporation was Downgraded by Morgan Stanley to ” Equal-Weight” on Aug 12, 2016.

SunPower Corporation (SunPower) is a global energy company. The Company provides design manufacturing installation ongoing maintenance and monitoring and adjacent services. The Company provides solar technology to residential commercial and utility customers worldwide. The Company operates through three segments: the Americas Segment the EMEA Segment and the APAC Segment. The Company offers solar power components solar power systems and residential leases. The Company sells panels and balance of system components primarily to dealers system integrators and distributors. The Company designs manufactures and sells rooftop and ground-mounted solar power systems under construction and development agreements. The Company offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase.

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