SunPower Corporation (NASDAQ: SPWR) is 43.08% higher on its value in year-to-date trading and has touched a low of $4.03 and a high of $15.57 in the current 52-week trading range. The SPWR stock was last observed hovering at around $11.50 in the last trading session, with the day’s loss setting it -0.34% off its average median price target of $9.50 for the next 12 months. It is also 14.15% off the consensus price target high of $13.00 offered by 12 analysts, but current levels are -123.2% lower than the price target low of $5.00 for the same period.
Currently trading at $11.16, the stock is 12.01% and 30.33% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.22 million and changing -2.96% at the moment leaves the stock 40.99% off its SMA200. SPWR registered -24.34% loss for a year compared to 6-month loss of 13.99%. The firm has a 50-day simple moving average (SMA 50) of $8.98 and a 200-day simple moving average (SMA200) of $7.84.
The stock witnessed a 18.47% gain in the last 1 month and extending the period to 3 months gives it a 53.72%, and is 16.98% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.68% over the week and 8.55% over the month.
SunPower Corporation (SPWR) has around 8400 employees, a market worth around $1.94B and $1.97B in sales. Current P/E ratio is 17.20 and Fwd P/E is 338.18. Profit margin for the company is 5.60%. Distance from 52-week low is 176.92% and -28.32% from its 52-week high. The company has generated returns on investments over the last 12 months (-11.90%).
SunPower Corporation (SPWR) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for SunPower Corporation (SPWR) is a “Hold”. 12 analysts offering their recommendations for the stock have an average rating of 3.20, where 7 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
SunPower Corporation is expected to release its quarterly report on 10/28/2020 and quarterly earnings per share for the current quarter are estimated at -$0.15 with sales reaching $384.07M over the same period.The EPS is expected to grow by 102.60% this year, but quarterly earnings will post -6.50% year-over-year. Quarterly sales are estimated to shrink -19.90% in year-over-year returns.
SunPower Corporation (SPWR) Top Institutional Holders
269 institutions hold shares in SunPower Corporation (SPWR), with 89.62M shares held by insiders accounting for 52.69% while institutional investors hold 97.35% of the company’s shares. The shares outstanding are 168.82M, and float is at 80.34M with Short Float at 30.23%. Institutions hold 46.06% of the Float.
The top institutional shareholder in the company is Wellington Management Company, LLP with over 13.07 million shares valued at $66.25 million. The investor’s holdings represent 7.69% of the SPWR Shares outstanding. As of Mar 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 12.23 million shares valued at $62.02 million to account for 7.20% of the shares outstanding. The other top investors are Blackrock Inc. which holds 7.48 million shares representing 4.40% and valued at over $37.95 million, while Invesco Ltd. holds 2.46% of the shares totaling 4.17 million with a market value of $21.16 million.
SunPower Corporation (SPWR) Insider Activity
A total of 118 insider transactions have happened at SunPower Corporation (SPWR) in the last six months, with sales accounting for 43 and purchases happening 75 times. The most recent transaction is an insider sale by MAHAFFEY KENNETH LAWRENCE, the company’s EVP & General Counsel. SEC filings show that MAHAFFEY KENNETH LAWRENCE sold 39,517 shares of the company’s common stock on Mar 06 at a price of $9.08 per share for a total of $0.36 million. Following the sale, the insider now owns 75973.0 shares.
SunPower Corporation disclosed in a document filed with the SEC on Mar 04 that Richards Douglas J. (EVP, Administration) sold a total of 12,928 shares of the company’s common stock. The trade occurred on Mar 04 and was made at $9.09 per share for $0.12 million. Following the transaction, the insider now directly holds 69262.0 shares of the SPWR stock.
Still, SEC filings show that on Feb 19, Sial Manavendra (EVP and CFO) disposed off 12,711 shares at an average price of $10.00 for $0.13 million. The insider now directly holds 33,052 shares of SunPower Corporation (SPWR).
SunPower Corporation (SPWR): Who are the competitors?
The company’s main competitors (and peers) include TOTAL S.A. (TOT) that is trading -19.38% down over the past 12 months. Canadian Solar Inc. (CSIQ) is 8.65% up on the 1-year trading charts. Short interest in the company’s stock has risen 16.3% from the last report on Jun 14, 2020 to stand at a total of 20.33 million short shares sold with a short interest ratio of 5.56.