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 Performance

Shares of SPWR opened at $25.39 on Thursday. The stock has a market capitalization of $4.42 billion, a P/E ratio of -28.21 and a beta of 2.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 1.19. SunPower has a 1 year low of $12.78 and a 1 year high of $34.61. The company's fifty day moving average is $18.85 and its two-hundred day moving average is $18.49.

SunPower (NASDAQ:SPWR - Get Rating) last announced its quarterly earnings data 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 analyst estimates of $364.47 million. During the same quarter in the previous year, the business earned $0.01 EPS. SunPower's revenue for the quarter was up 60.2% on a year-over-year basis. On average, sell-side analysts predict that SunPower will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPWR has been the subject of a number of research reports. UBS Group lifted their price objective on SunPower from $17.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday, August 3rd. Raymond James boosted their price target on shares of SunPower from $22.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 3rd. Morgan Stanley upped their target price on shares of SunPower from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Monday, June 13th. Roth Capital lowered their price target on shares of SunPower from $20.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, July 22nd. Finally, Wells Fargo & Company initiated coverage on shares of SunPower in a research report on Wednesday, June 29th. They issued an "underweight" rating and a $17.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, SunPower has an average rating of "Hold" and an average target price of $21.63.

Insiders Place Their Bets

In other news, insider Vichheka Heang sold 14,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $24.95, for a total value of $349,300.00. Following the completion of the transaction, the insider now owns 5,046 shares in the company, valued at approximately $125,897.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SunPower news, EVP Douglas J. Richards sold 23,912 shares of the company's stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $25.90, for a total value of $619,320.80. Following the sale, the executive vice president now owns 23,909 shares of the company's stock, valued at $619,243.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vichheka Heang sold 14,000 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $24.95, for a total transaction of $349,300.00. Following the completion of the sale, the insider now directly owns 5,046 shares in the company, valued at $125,897.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,912 shares of company stock worth $1,634,371. 0.65% of the stock is owned by corporate insiders.