Insider Selling: SunPower Co. (NASDAQ:SPWR) CFO Sells 42,322 Shares of Stock

Thursday, June 10, 2021 | MarketBeat

SunPower Co. (NASDAQ:SPWR) CFO Manavendra Sial sold 42,322 shares of the stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $25.00, for a total value of $1,058,050.00. Following the completion of the transaction, the chief financial officer now directly owns 50,540 shares in the company, valued at approximately $1,263,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Manavendra Sial also recently made the following trade(s):

  • On Friday, May 7th, Manavendra Sial sold 11,116 shares of SunPower stock. The shares were sold at an average price of $23.09, for a total value of $256,668.44.

SPWR traded up $2.01 on Thursday, hitting $26.44. The company had a trading volume of 9,047,350 shares, compared to its average volume of 6,269,644. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.20 and a quick ratio of 1.74. SunPower Co. has a 52-week low of $6.92 and a 52-week high of $57.52. The business has a fifty day simple moving average of $25.61. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 12.30 and a beta of 2.08.

SunPower (NASDAQ:SPWR) last issued its quarterly earnings data on Wednesday, May 5th. The semiconductor company reported $0.05 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.02 by $0.03. SunPower had a net margin of 33.55% and a negative return on equity of 14.10%. The business had revenue of $306.40 million during the quarter, compared to analyst estimates of $310.15 million. During the same period last year, the business posted ($0.10) earnings per share. SunPower's quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts anticipate that SunPower Co. will post 0.31 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of SPWR. Trustcore Financial Services LLC purchased a new position in shares of SunPower during the fourth quarter valued at approximately $26,000. Close Asset Management Ltd purchased a new position in shares of SunPower during the first quarter valued at approximately $40,000. Ameritas Investment Company LLC purchased a new position in shares of SunPower during the first quarter valued at approximately $45,000. Baillie Gifford & Co. purchased a new position in shares of SunPower during the fourth quarter valued at approximately $38,000. Finally, Retirement Group LLC purchased a new position in shares of SunPower during the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 32.61% of the company's stock.

A number of research analysts recently commented on SPWR shares. Robert W. Baird reissued a "buy" rating on shares of SunPower in a research note on Monday, March 29th. TheStreet raised SunPower from a "d" rating to a "c-" rating in a research note on Wednesday, February 17th. Roth Capital reduced their price objective on SunPower from $40.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, May 6th. Credit Suisse Group reaffirmed an "underperform" rating and set a $23.00 price objective on shares of SunPower in a research note on Monday, March 1st. Finally, Barclays reduced their price objective on SunPower from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Thursday, May 6th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. SunPower presently has a consensus rating of "Hold" and an average price target of $26.42.

SunPower Company Profile

SunPower Corporation delivers solar solutions worldwide. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar energy solutions, including sales to its third-party dealer network and resellers, storage solutions, cash and loan sales, and long-term leases directly to end customers; and sells turn-key engineering, procurement, and construction services, as well as sells energy under power purchase agreements.

Further Reading: Find a Trading Strategy That Works

Insider Buying and Selling by Quarter for SunPower (NASDAQ:SPWR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Trading on Margin


7 Stocks to Support Your New Year’s Resolutions

After a year like 2020, many Americans figure that just getting to 2021 was enough. But for many people, the start of a new year still means making resolutions. And while many Americans are still waking up to Groundhog’s Day, there is hope that things will look dramatically different in September than they do right now.

Some of the most popular resolutions include losing weight, exercising more, or taking steps to get our life and/or business more organized. And many pure-play companies lean into these trends and are doing well.

As an alternative to this, you can also invest in companies that are not pure plays but can still benefit from consumers looking to start fresh. Owning these stocks helps you manage your risk. If the trend holds, you can ride the wave. On the other hand, if the wave turns into a ripple, the stocks have other catalysts to get them through.

In this special presentation, we’ll take a look at both of these categories. We’ve got several pure-play companies that let investors buy stocks in companies benefiting from these trends. We’ll also give you a few stocks that fall in the latter category.

These are stocks that you might buy at any time and for many reasons. However, they present excellent buys as the new year begins.

View the "7 Stocks to Support Your New Year’s Resolutions".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.