SunPower Corporation (SPWR) Volatility At 8.51%, Should You Add A Position?

301 institutions hold shares in SunPower Corporation (SPWR), with 89.24M shares held by insiders accounting for 52.41% while institutional investors hold 102.78% of the company’s shares. The shares outstanding are 170.11M, and float is at 81.01M with Short Float at 31.90%. Institutions hold 48.91% of the Float.

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The top institutional shareholder in the company is Wellington Management Company, LLP with over 12.34 million shares valued at $154.33 million. The investor’s holdings represent 7.25% of the SPWR Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 10.26 million shares valued at $128.37 million to account for 6.03% of the shares outstanding. The other top investors are Blackrock Inc. which holds 5.5 million shares representing 3.23% and valued at over $140.95 million, while Invesco Ltd. holds 3.11% of the shares totaling 5.3 million with a market value of $66.28 million.

SunPower Corporation (NASDAQ: SPWR) is 47.27% higher on its value in year-to-date trading and has touched a low of $2.64 and a high of $57.52 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SPWR stock was last observed hovering at around $36.33 in the last trading session, with the day’s gains setting it 1.43% off its average median price target of $32.50 for the next 12 months. It is also 22.94% off the consensus price target high of $49.00 offered by 16 analysts, but current levels are -190.46% lower than the price target low of $13.00 for the same period.

Currently trading at $37.76, the stock is -19.85% and 6.99% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.02 million and changing 3.94% at the moment leaves the stock 126.06% off its SMA200. SPWR registered 439.50% gain for a year compared to 6-month gain of 384.23%. The firm has a 50-day simple moving average (SMA 50) of $41.00 and a 200-day simple moving average (SMA200) of $22.27.

The stock witnessed a 1.04% loss in the last 1 month and extending the period to 3 months gives it a 84.74%, and is -24.42% down 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 8.51% over the week and 13.10% over the month.

SunPower Corporation (SPWR) has around 8400 employees, a market worth around $6.18B and $1.12B in sales. Current P/E ratio is 12.34 and Fwd P/E is 56.02. Profit margin for the company is 1.90%. Distance from 52-week low is 1331.07% and -34.35% from its 52-week high. The company has generated returns on investments over the last 12 months (-12.60%).

SunPower Corporation (SPWR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for SunPower Corporation (SPWR) is a “Hold”. 16 analysts offering their recommendations for the stock have an average rating of 3.00, where 9 rate it as a Hold and 1 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

SunPower Corporation is expected to release its quarterly report on 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.02 with sales reaching $316.13M over the same period.The EPS is expected to grow by 102.60% this year, but quarterly earnings will post 31.90% year-over-year. Quarterly sales are estimated to shrink -30.40% in year-over-year returns.

SunPower Corporation (SPWR) Insider Activity

A total of 31 insider transactions have happened at SunPower Corporation (SPWR) in the last six months, with sales accounting for 21 and purchases happening 10 times. The most recent transaction is an insider sale by Sial Manavendra, the company’s EVP and CFO. SEC filings show that Sial Manavendra sold 14,819 shares of the company’s common stock on Nov 05 at a price of $19.01 per share for a total of $0.28 million. Following the sale, the insider now owns 11116.0 shares.

SunPower Corporation disclosed in a document filed with the SEC on Nov 05 that Heang Vichheka (Principal Accounting Officer) sold a total of 7,981 shares of the company’s common stock. The trade occurred on Nov 05 and was made at $18.01 per share for $0.14 million. Following the transaction, the insider now directly holds 0.0 shares of the SPWR stock.

Still, SEC filings show that on Nov 04, MAHAFFEY KENNETH LAWRENCE (EVP & General Counsel) disposed off 8,579 shares at an average price of $15.54 for $0.13 million. The insider now directly holds 75,973 shares of SunPower Corporation (SPWR).

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SunPower Corporation (SPWR): Who are the competitors?

The company’s main competitors (and peers) include TOTAL SE (TOT) that is trading -6.99% down over the past 12 months. Canadian Solar Inc. (CSIQ) is 115.69% up on the 1-year trading charts. Short interest in the company’s stock has fallen -67.76% from the last report on Dec 30, 2020 to stand at a total of 43.35 million short shares sold with a short interest ratio of 2.18.

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