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SunPower Corporation (SPWR) Is Down -9.43% in 2023 With Lots of Room to Run

SunPower Corporation (NASDAQ: SPWR) is -9.43% lower on its value in year-to-date trading and has touched a low of $12.78 and a high of $28.42 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SPWR stock was last observed hovering at around $16.56 in the last trading session, with the day’s loss setting it -0.23% off its average median price target of $22.00 for the next 12 months. It is also 48.97% off the consensus price target high of $32.00 offered by 22 analysts, but current levels are -2.06% lower than the price target low of $16.00 for the same period.

Currently trading at $16.33, the stock is -9.92% and -21.24% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.73 million and changing -1.39% at the moment leaves the stock -19.13% off its SMA200. SPWR registered -13.69% loss for a year compared to 6-month gain of -4.00%.

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The stock witnessed a -19.83% loss in the last 1 month and extending the period to 3 months gives it a 2.77%, and is -13.05% 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 6.05% over the week and 5.40% over the month.

SunPower Corporation (SPWR) has around 3660 employees, a market worth around $2.88B and $1.63B in sales. Current P/E ratio is 27.96 and Fwd P/E is 29.53. Profit margin for the company is 4.20%. Distance from 52-week low is 27.78% and -42.54% from its 52-week high. The company has generated returns on investments over the last 12 months (-3.50%).

SunPower Corporation (SPWR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for SunPower Corporation (SPWR) is a “Hold”. 22 analysts offering their recommendations for the stock have an average rating of 3.00, where 15 rate it as a Hold and 2 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 05/09/2023.The EPS is expected to shrink by -107.00% this year.

SunPower Corporation (SPWR) Top Institutional Holders

The shares outstanding are 174.12M, and float is at 172.86M with Short Float at 8.34%.

SunPower Corporation (SPWR) Insider Activity

A total of 21 insider transactions have happened at SunPower Corporation (SPWR) in the last six months, with sales accounting for 12 and purchases happening 9 times. The most recent transaction is an insider sale by Heang Vichheka,the company’sPrincipal Accounting Officer. SEC filings show that Heang Vichheka sold 3,500 shares of the company’s common stock on Nov 14 at a price of $22.01 per share for a total of $77042.0. Following the sale, the insider now owns 3181.0 shares.

SunPower Corporation disclosed in a document filed with the SEC on Aug 15 that Sial Manavendra (EVP and CFO) sold a total of 25,000 shares of the company’s common stock. The trade occurred on Aug 15 and was made at $26.63 per share for $0.67 million. Following the transaction, the insider now directly holds 50810.0 shares of the SPWR stock.

Still, SEC filings show that on Aug 10, Richards Douglas J. (EVP, Administration) disposed off 23,912 shares at an average price of $25.90 for $0.62 million. The insider now directly holds 23,909 shares of SunPower Corporation (SPWR).

SunPower Corporation (SPWR): Who are the competitors?

The company’s main competitors (and peers) include TotalEnergies SE (TTE) that is trading 11.18% up over the past 12 months. Canadian Solar Inc. (CSIQ) is 58.67% up on the 1-year trading charts.

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