301 institutions hold shares in SunPower Corporation (SPWR), with 89.39M shares held by insiders accounting for 52.41% while institutional investors hold 102.78% of the company’s shares. The shares outstanding are 170.27M, and float is at 81.01M with Short Float at 22.86%. Institutions hold 48.91% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 9.67 million shares valued at $248.0 million. The investor’s holdings represent 5.67% of the SPWR Shares outstanding. As of Dec 30, 2020, the second largest holder is Wellington Management Group, LLP with 6.71 million shares valued at $171.98 million to account for 3.93% of the shares outstanding. The other top investors are Invesco Ltd. which holds 6.28 million shares representing 3.68% and valued at over $160.99 million, while Blackrock Inc. holds 3.22% of the shares totaling 5.5 million with a market value of $140.95 million.
SunPower Corporation (NASDAQ: SPWR) is 14.04% higher on its value in year-to-date trading and has touched a low of $2.96 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 $32.87 in the last trading session, with the day’s loss setting it -3.63% off its average median price target of $31.50 for the next 12 months. It is also 40.33% off the consensus price target high of $49.00 offered by 16 analysts, but current levels are -124.92% lower than the price target low of $13.00 for the same period.
Currently trading at $29.24, the stock is -11.74% and -25.40% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.02 million and changing -11.04% at the moment leaves the stock 42.91% off its SMA200. SPWR registered 716.44% gain for a year compared to 6-month gain of 174.30%. The firm has a 50-day simple moving average (SMA 50) of $36.65 and a 200-day simple moving average (SMA200) of $26.74.
The stock witnessed a -15.90% loss in the last 1 month and extending the period to 3 months gives it a -2.11%, and is -15.10% 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 9.48% over the week and 9.43% over the month.
SunPower Corporation (SPWR) has around 2200 employees, a market worth around $4.79B and $1.12B in sales. Current P/E ratio is 9.14 and Fwd P/E is 41.89. Profit margin for the company is 42.20%. Distance from 52-week low is 889.13% and -49.17% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.10%).
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 3.10, where 9 rate it as a Hold and 1 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 4 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 $0.01 with sales reaching $308.39M over the same period.The EPS is expected to grow by 136.70% this year, but quarterly earnings will post 34.10% year-over-year. Quarterly sales are estimated to shrink -32.10% in year-over-year returns.
SunPower Corporation (SPWR) Insider Activity
A total of 83 insider transactions have happened at SunPower Corporation (SPWR) in the last six months, with sales accounting for 48 and purchases happening 35 times. The most recent transaction is an insider sale by Richards Douglas J., the company’s EVP, Administration. SEC filings show that Richards Douglas J. sold 53,486 shares of the company’s common stock on Mar 04 at a price of $31.98 per share for a total of $1.71 million. Following the sale, the insider now owns 0.0 shares.
SunPower Corporation disclosed in a document filed with the SEC on Mar 04 that MAHAFFEY KENNETH LAWRENCE (EVP & General Counsel) sold a total of 45,024 shares of the company’s common stock. The trade occurred on Mar 04 and was made at $32.04 per share for $1.44 million. Following the transaction, the insider now directly holds 8177.0 shares of the SPWR stock.
Still, SEC filings show that on Mar 04, Heang Vichheka (Principal Accounting Officer) disposed off 14,596 shares at an average price of $31.99 for $0.47 million. The insider now directly holds 0 shares of SunPower Corporation (SPWR).
SunPower Corporation (SPWR): Who are the competitors?
The company’s main competitors (and peers) include TOTAL SE (TOT) that is trading 33.55% up over the past 12 months. Canadian Solar Inc. (CSIQ) is 195.03% up on the 1-year trading charts. Short interest in the company’s stock has fallen -13.28% from the last report on Feb 11, 2021 to stand at a total of 20.98 million short shares sold with a short interest ratio of 3.11.