The price of SunPower Corporation (NASDAQ:SPWR) shares last traded on Wall Street fell -4.64% to $22.62.
Based on available information, 22 analysts follow SunPower Corporation (NASDAQ:SPWR). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $16.00, we find $23.00. Given the previous closing price of $23.72, this indicates a potential downside of -3.04 percent. SPWR stock price is now 8.90% away from the 50-day moving average and 12.17% away from the 200-day moving average. The market capitalization of the company currently stands at $3.80B.
Among analysts, 14 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $22.56 as their price target over the next twelve months.
With the price target of $16, Deutsche Bank recently initiated with Hold rating for SunPower Corporation (NASDAQ: SPWR). On November 10, 2022, Credit Suisse Upgraded its previous ‘Underperform’ rating to ‘Neutral’ on the stock reducing its target price from $21 to quote $17, while ‘Guggenheim’ rates the stock as ‘Neutral’.
In other news, Heang Vichheka, Principal Accounting Officer sold 3,500 shares of the company’s stock on Nov 14. The stock was sold for $77,042 at an average price of $22.01. Upon completion of the transaction, the Principal Accounting Officer now directly owns 3,181 shares in the company, valued at $71954.22. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15, EVP and CFO Sial Manavendra sold 25,000 shares of the business’s stock. A total of $665,668 was realized by selling the stock at an average price of $26.63. This leaves the insider owning 50,810 shares of the company worth $1.15 million. Insiders disposed of 132,092,414 shares of company stock worth roughly $2.99 billion over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SPWR stock. A new stake in SunPower Corporation shares was purchased by CLEAN ENERGY TRANSITION LLP during the first quarter worth $40,031,000. AMUNDI invested $8,798,000 in shares of SPWR during the first quarter. In the first quarter, MOORE CAPITAL MANAGEMENT, LP acquired a new stake in SunPower Corporation valued at approximately $8,033,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in SPWR for approximately $6,354,000. CASTLEARK MANAGEMENT LLC purchased a new stake in SPWR valued at around $5,108,000 in the second quarter. In total, there are 403 active investors with 89.70% ownership of the company’s stock.
A candlestick chart of SunPower Corporation (NASDAQ: SPWR) showed a price of $23.66 on Tuesday morning. During the past 12 months, SunPower Corporation has had a low of $12.78 and a high of $28.42. As of last week, the company has a debt-to-equity ratio of 0.91, a current ratio of 1.30, and a quick ratio of 1.10. The fifty day moving average price for SPWR is $20.77 and a two-hundred day moving average price translates $20.17 for the stock.
The latest earnings results from SunPower Corporation (NASDAQ: SPWR) was released for Jul, 2022. According to the Solar Company, earnings per share came in at $0.03, missing analysts’ expectations of $0.04 by -0.01. This compares to -$0.07 EPS in the same period last year. The net profit margin was 4.20% and return on equity was 16.00% for SPWR. The company reported revenue of $475.71 million for the quarter, compared to $283.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 67.91 percent. For the current quarter, analysts expect SPWR to generate $428M in revenue.
SunPower Corporation(SPWR) Company Profile
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements. It also offers commercial roof, carport, and ground mounted systems; and post-installation monitoring and maintenance services. In addition, the company provides residential leasing services, as well as sells inverters manufactured by third parties. It primarily serves investors, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners, and small commercial building owners. The company was incorporated in 1985 and is headquartered in San Jose, California. SunPower Corporation is a subsidiary of TotalEnergies SE.