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 NASDAQ:SPWR traded up $1.32 during midday trading on Friday, hitting $24.08. 4,978,244 shares of the company's stock traded hands, compared to its average volume of 3,160,825. SunPower has a 1 year low of $12.78 and a 1 year high of $34.61. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -26.76 and a beta of 2.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.87 and a current ratio of 1.19. The firm has a fifty day moving average of $17.70 and a 200 day moving average of $17.99.

SunPower (NASDAQ:SPWR - Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $0.03 EPS for the quarter, missing the consensus estimate 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 business had revenue of $417.80 million for the quarter, compared to analysts' expectations of $364.47 million. During the same period in the previous year, the company earned $0.01 EPS. SunPower's revenue for the quarter was up 60.2% compared to the same quarter last year. On average, analysts forecast that SunPower will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of SunPower from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $19.00 to $13.00 in a research note on Monday, June 20th. Morgan Stanley lifted 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 cut their price target on shares of SunPower from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, July 22nd. Wells Fargo & Company assumed coverage on shares of SunPower in a report on Wednesday, June 29th. They issued an "underweight" rating and a $17.00 price target on the stock. Finally, Piper Sandler cut their price target on shares of SunPower from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, July 19th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.60.