SunPower Co. (NASDAQ:SPWR) Director Patrick Wood III sold 33,609 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $7.89, for a total value of $265,175.01. Following the sale, the director now owns 129,083 shares of the company’s stock, valued at $1,018,464.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of SunPower stock opened at $7.96 on Thursday. The firm has a market capitalization of $1.20 billion, a PE ratio of -9.05 and a beta of 2.10. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 39.39. SunPower Co. has a 12 month low of $4.55 and a 12 month high of $8.61.
SunPower (NASDAQ:SPWR) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.05. The firm had revenue of $348.22 million during the quarter, compared to analysts’ expectations of $387.93 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 46.65%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) earnings per share. As a group, analysts predict that SunPower Co. will post -0.59 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in SunPower by 40.4% during the fourth quarter. Rhumbline Advisers now owns 90,729 shares of the semiconductor company’s stock worth $451,000 after buying an additional 26,089 shares in the last quarter. Canal Insurance CO acquired a new stake in SunPower during the fourth quarter valued at approximately $298,000. Vanguard Group Inc boosted its holdings in SunPower by 10.2% during the third quarter. Vanguard Group Inc now owns 6,265,071 shares of the semiconductor company’s stock valued at $45,735,000 after purchasing an additional 580,984 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in SunPower by 55.4% during the third quarter. MetLife Investment Advisors LLC now owns 48,884 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 17,431 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in SunPower by 75.1% during the fourth quarter. SG Americas Securities LLC now owns 25,935 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 11,124 shares in the last quarter. 27.86% of the stock is currently owned by institutional investors and hedge funds.
SPWR has been the subject of a number of analyst reports. ValuEngine raised SunPower from a “hold” rating to a “buy” rating in a report on Thursday, June 6th. Zacks Investment Research upgraded SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Tuesday, April 16th. BidaskClub upgraded SunPower from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. started coverage on SunPower in a research report on Thursday, April 11th. They set a “neutral” rating and a $7.50 price target on the stock. Finally, Credit Suisse Group cut SunPower from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $7.00 in a research report on Friday, February 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.82.
SunPower Company Profile
SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
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