Concordia International Corp (CXRX) & Four Solar Stocks Recently Touched 52-Week Lows and Here’s Why

SunPower Corporation (NASDAQ:SPWR)’s shares have been in a strong downtrend since August 9, when the solar company issued disappointing full-year revenue guidance, citing aggressive pricing by new entrants and the lack of urgency on buyers’ parts due to the extension of a generous renewable energy tax credit. For the full 2016, SunPower expects revenue of $3 billion to $3.2 billion, versus the previous $3.2-$3.4 billion range. The downtrend didn’t end this week, and SunPower hit a 52-week low of $7.36 per share. In contrast to the previous solar stocks covered in this article, SunPower was a little bit more popular among hedge funds in the second quarter. According to our data, 19 investors had a bullish position in SunPower Corporation (NASDAQ:SPWR) at the end of the second quarter, up by four funds from the previous quarter.

Some investors are less confident that Tesla Motors Inc (NASDAQ:TSLA) will successfully buy SolarCity Corp (NASDAQ:SCTY). A big tell is SolarCity’s stock price recently hitting a 52-week low of $16.20 per share before bouncing. If the merger were to go through without a hitch, SolarCity shareholders would be entitled to 0.11 shares of Tesla for each share of Solarcity they own. That translates to around $22 per share based on Tesla’s closing price on Friday. Kenneth Tropin‘s Graham Capital Management owned 16.5 million shares of SolarCity Corp (NASDAQ:SCTY) at the end of June.

Concordia International Corp (NASDAQ:CXRX) hit a 52-week low of $4.80 per share on Friday after a British politician introduced the UK’s Health Service Medical Supplies (Costs) Bill in the House of Commons. If passed, some investors believe the bill will likely limit price growth or lower existing prices for some medical supplies and pharmaceutical products. That could potentially lead to sluggish growth for Concordia in Britain. However, Concordia’s management did reaffirm its full-year guidance on Friday. The number of funds from our database long Concordia International Corp (NASDAQ:CXRX) went up by five to 15 during the second quarter.

Disclosure: none