Analysts adjusted their ratings on Keurig Green Mountain Inc (GMCR), Osiris Therapeutics, Inc. (OSIR), and SunPower Corporation (SPWR)
Analysts are weighing in today on single-serve coffee specialist Keurig Green Mountain Inc (NASDAQ:GMCR), pharmaceutical interest Osiris Therapeutics, Inc. (NASDAQ:OSIR), and solar energy concern SunPower Corporation (NASDAQ:SPWR). Here's a quick roundup of today's brokerage notes on GMCR, OSIR, and SPWR.
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GMCR received a price-target cut to $50 from $60 at Wedbush, echoing last week's downgrade from SunTrust Robinson. Keurig Green Mountain Inc touched a near-three-year low of $40.23 today, and was last seen trading at $41.72, a loss of 8.5%. The coffee concern has lost more than two-thirds of its value year-to-date, but has been trying to cut costs by importing coffee beans through duty-free sites. Ahead of tomorrow night's quarterly earnings report, options traders are pricing in an 18.5% swing, according to near-term at-the-money straddle data -- substantially higher than the 13.3% average one-day post-earnings move over the last eight quarters. What's more, GMCR has moved lower in the session subsequent to reporting after its last five trips to the earnings confessional. Only two out of 16 brokerage firms following GMCR give it a rating above "hold," but the stock's 50-day call/put volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 1.64 -- in the bullish 84th percentile of readings for the past year.
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Brean Capital handed OSIR a downgrade to "sell" from "hold," opining that the pharmaceutical company's delayed quarterly statement is "evidence of aggressive accounting, particularly in regard to revenue recognition." As such, Osiris Therapeutics, Inc. shares are down 19.5% at $11.25, after earlier hitting a new two-year low of $9.80. Short sellers are sure to be pleased, as short interest currently accounts for nearly one-fourth of OSIR's total available float, and would take more than 17 days to buy back, at the stock's average pace of trading. Today, however, OSIR has been relegated to the short-sale restricted list.
- SPWR earned a $1 price-target hike to $26 at Barclays, but was last seen down 2.1% at $23.47, perhaps in sympathy with Sunedison Inc (NYSE:SUNE). Out of 13 analysts following the stock, 10 give SunPower Corporation a "buy" rating or better, without a single "sell" to be found. But while options buyers were making bullish bets ahead of SPWR's quarterly earnings report at the end of October -- when the company revealed earnings that well surpassed expectations on the Street -- sentiment seems to have soured in the options pits. The stock's 10-day put/call volume ratio of 1.51 on the ISE/CBOE/PHLX is higher than 84% of readings in the last 52 weeks. What's more, 10.6% of SPWR's total float remains sold short, accounting for more than a week of pent-up buying demand, at the stock's typical volumes.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Fitbit Inc, Level 3 Communications, Inc., and Nuance Communications Inc. and Analyst Downgrades: Urban Outfitters, Inc., Clovis Oncology Inc, and Valeant Pharmaceuticals Intl Inc.