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.
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