The stock of SunPower Corporation (NASDAQ:SPWR) last traded at $8.14, down -2.16% from the previous session.
Data from the available sources indicates that SunPower Corporation (NASDAQ:SPWR) is covered by 27 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $17.00 and a low of $7.00, we find $10.00. Given the previous closing price of $8.32, this indicates a potential upside of 20.19 percent. SPWR stock price is now -20.31% away from the 50-day moving average and -45.20% away from the 200-day moving average. The market capitalization of the company currently stands at $1.46B.
In total, 20 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $10.93 as their price target over the next twelve months.
With the price target reduced from $24 to $12, Robert W. Baird Downgraded its rating from Outperform to Neutral for SunPower Corporation (NASDAQ: SPWR).
In other news, Faricy Peter, President and CEO bought 7,500 shares of the company’s stock on Mar 16. The stock was bought for $99,686 at an average price of $13.29. Upon completion of the transaction, the President and CEO now directly owns 177,458 shares in the company, valued at $1.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 14, Principal Accounting Officer Heang Vichheka sold 3,500 shares of the business’s stock. A total of $77,042 was realized by selling the stock at an average price of $22.01. This leaves the insider owning 3,181 shares of the company worth $25893.34. Insiders disposed of 132,097,376 shares of company stock worth roughly $1.08 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 MARSHALL WACE, LLP during the first quarter worth $5,953,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC invested $1,578,000 in shares of SPWR during the first quarter. In the first quarter, HOLOCENE ADVISORS, LP acquired a new stake in SunPower Corporation valued at approximately $1,489,000. AROSA CAPITAL MANAGEMENT LP acquired a new stake in SPWR for approximately $838,000. EDGESTREAM PARTNERS, L.P. purchased a new stake in SPWR valued at around $702,000 in the second quarter. In total, there are 390 active investors with 89.70% ownership of the company’s stock.
With an opening price of $8.15 on Friday morning, SunPower Corporation (NASDAQ: SPWR) set off the trading day. During the past 12 months, SunPower Corporation has had a low of $8.22 and a high of $28.42. As of last week, the company has a debt-to-equity ratio of 0.77, a current ratio of 1.60, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $1.72B, which is based on a 26.69 price-to-earnings ratio, a 0.51 price-to-earnings-growth ratio, and a beta of 1.92. The fifty day moving average price for SPWR is $10.17 and a two-hundred day moving average price translates $14.81 for the stock.
The latest earnings results from SunPower Corporation (NASDAQ: SPWR) was released for Jul, 2023. According to the Solar Company, earnings per share came in at -$0.13, missing analysts’ expectations of -$0.05 by -0.08. This compares to -$0.12 EPS in the same period last year. The net profit margin was 3.40% and return on equity was 12.00% for SPWR. The company reported revenue of $463.85 million for the quarter, compared to $417.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.03 percent. For the current quarter, analysts expect SPWR to generate $458.67M in revenue.
