In yesterday’s Wall Street session, Sunpower Corp (NASDAQ:SPWR) shares traded at $5.09, down -8.62% from the previous session.
As of this writing, 28 analysts cover Sunpower Corp (NASDAQ:SPWR). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $17.80 and a low of $4.00, we find $7.25. Given the previous closing price of $5.57, this indicates a potential upside of 30.16 percent. SPWR stock price is now -23.05% away from the 50-day moving average and -55.28% away from the 200-day moving average. The market capitalization of the company currently stands at $891.72M.
There are 18 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $8.06 as their price target over the next twelve months.
With the price target of $4, Exane BNP Paribas recently initiated with Underperform rating for Sunpower Corp (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 $0.9 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 $16191.29. Insiders disposed of 130,364 shares of company stock worth roughly $0.66 million over the past 1 year. A total of 50.73% 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 Corp shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $8,253,000. CINCTIVE CAPITAL MANAGEMENT LP invested $4,219,000 in shares of SPWR during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in Sunpower Corp valued at approximately $1,323,000. SEVEN EIGHT CAPITAL, LP acquired a new stake in SPWR for approximately $1,148,000. UNISUPER MANAGEMENT PTY LTD purchased a new stake in SPWR valued at around $1,113,000 in the second quarter. In total, there are 390 active investors with 50.05% ownership of the company’s stock.
Friday morning saw Sunpower Corp (NASDAQ: SPWR) opened at $4.95. During the past 12 months, Sunpower Corp has had a low of $4.95 and a high of $24.97. As of last week, the company has a debt-to-equity ratio of 0.85, a current ratio of 1.35, and a quick ratio of 0.68. According to the stock market information, the enterprise value for the company is $1.18B, which is based on a 17.66 price-to-earnings ratio, a 0.34 price-to-earnings-growth ratio, and a beta of 1.94. The fifty day moving average price for SPWR is $6.55 and a two-hundred day moving average price translates $11.32 for the stock.
The latest earnings results from Sunpower Corp (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 3.37% and return on equity was 14.84% 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 $454.72M in revenue.
Sunpower Corp(SPWR) Company Profile
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production. The company also provides post-installation monitoring and maintenance services. It serves residential customers, including individual homeowners and new home builders. The company was incorporated in 1985 and is headquartered in San Jose, California. SunPower Corporation is a subsidiary of TotalEnergies SE.
