SunPower - SPWR Stock Forecast, Price & News

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements. It also offers commercial roof, carport, and ground mounted systems; and post-installation monitoring and maintenance services. In addition, the company provides residential leasing services, as well as sells inverters manufactured by third parties. It primarily serves investors, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners, and small commercial building owners. The company was incorporated in 1985 and is headquartered in San Jose, California. SunPower Corporation is a subsidiary of TotalEnergies SE.

SunPower Stock Up 2.5 %

SunPower stock opened at $24.65 on Wednesday. The business's 50-day simple moving average is $17.96 and its two-hundred day simple moving average is $18.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 1.19. The company has a market cap of $4.29 billion, a PE ratio of -27.39 and a beta of 2.06. SunPower has a fifty-two week low of $12.78 and a fifty-two week high of $34.61.

SunPower (NASDAQ:SPWR - Get Rating) last issued its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). SunPower had a negative net margin of 10.51% and a negative return on equity of 4.15%. The firm had revenue of $417.80 million during the quarter, compared to analysts' expectations of $364.47 million. During the same quarter in the prior year, the company earned $0.01 EPS. SunPower's quarterly revenue was up 60.2% on a year-over-year basis. Equities analysts anticipate that SunPower will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company assumed coverage on SunPower in a research report on Wednesday, June 29th. They set an "underweight" rating and a $17.00 target price on the stock. Raymond James raised their price objective on SunPower from $22.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, August 3rd. Credit Suisse Group boosted their target price on shares of SunPower to $17.00 in a report on Tuesday. UBS Group raised their price target on shares of SunPower from $17.00 to $22.00 and gave the company a "neutral" rating in a report on Wednesday, August 3rd. Finally, The Goldman Sachs Group lowered shares of SunPower from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $19.00 to $13.00 in a research note on Monday, June 20th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.63.