Stocks of SunPower Corporation (SPWR) are poised to climb above their peers

SunPower Corporation (NASDAQ: SPWR) stock fell -0.82% on Friday to $7.22 against a previous-day closing price of $7.28. With 6.71 million shares changed hands, the volume of the stock remained heavier than its average volume of 6.19 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $7.45 whereas the lowest price it dropped to was $7.02. The 52-week range on SPWR shows that it touched its highest point at $27.93 and its lowest point at $6.31 during that stretch. It currently has a 1-year price target of $10.32. Beta for the stock currently stands at 1.94.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SPWR was up-trending over the past week, with a rise of 9.06%, but this was down by -3.22% over a month. Three-month performance dropped to -35.65% while six-month performance fell -46.52%. The stock lost -73.84% in the past year, while it has lost -59.96% so far this year. A look at the trailing 12-month EPS for SPWR yields 0.30 with Next year EPS estimates of 0.24. For the next quarter, that number is 0.02. This implies an EPS growth rate of -136.40% for this year and 291.70% for next year. EPS is expected to grow by 52.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 16.30%.

Float and Shares Shorts:

At present, 175.04 million SPWR shares are outstanding with a float of 86.12 million shares on hand for trading. On Aug 14, 2023, short shares totaled 26.52 million, which was 15.14% higher than short shares on Jul 13, 2023. In addition to Mr. Peter T. Faricy as the firm’s Chairman, Pres & CEO, Mr. Jason MacRae serves as its Exec. VP of Financial Products.

Institutional Ownership:

Through their ownership of 94.91% of SPWR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 26.76% of SPWR, in contrast to 23.58% held by mutual funds. Shares owned by individuals account for 101.79%. As the largest shareholder in SPWR with 9.04% of the stake, BlackRock Fund Advisors holds 15,839,171 shares worth 15,839,171. A second-largest stockholder of SPWR, The Vanguard Group, Inc., holds 9,056,874 shares, controlling over 5.17% of the firm’s shares. Schroder Investment Management Lt is the third largest shareholder in SPWR, holding 6,773,952 shares or 3.87% stake. With a 3.46% stake in SPWR, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,058,129 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.57% of SPWR stock, is the second-largest Mutual Fund holder. It holds 2,745,685 shares valued at 19.66 million. Invesco Solar ETF holds 1.40% of the stake in SPWR, owning 2,450,071 shares worth 17.54 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jul 01, 2023, SPWR reported revenue of $417.77M and operating income of -$18.45M. The EBITDA in the recently reported quarter was -$20.63M and diluted EPS was -$0.36.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPWR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SPWR analysts setting a high price target of $17.00 and a low target of $7.00, the average target price over the next 12 months is $10.41. Based on these targets, SPWR could surge 135.46% to reach the target high and fall by -3.05% to reach the target low. Reaching the average price target will result in a growth of 44.18% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded SPWR stock several times over the past three months with 4 Buys and 1 Sells. In these transactions, 73,389 shares were bought while 21,665 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 343,839 while 120,107 shares were sold.

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