Sunpower Corp (NASDAQ: SPWR) stock jumped 5.54% on Friday to $4.57 against a previous-day closing price of $4.33. With 3.86 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.91 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $4.5700 whereas the lowest price it dropped to was $4.2000. The 52-week range on SPWR shows that it touched its highest point at $24.97 and its lowest point at $3.68 during that stretch. It currently has a 1-year price target of $5.43. Beta for the stock currently stands at 1.92.
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 20.58%, but this was down by -17.95% over a month. Three-month performance dropped to -35.81% while six-month performance fell -52.25%. The stock lost -80.31% in the past year, while it has lost -74.65% so far this year. A look at the trailing 12-month EPS for SPWR yields -0.62 with Next year EPS estimates of -0.25. For the next quarter, that number is -0.21. This implies an EPS growth rate of -275.15% for this year and 57.49% for next year.
Float and Shares Shorts:
At present, 174.27 million SPWR shares are outstanding with a float of 86.30 million shares on hand for trading. On Oct 30, 2023, short shares totaled 31.87 million, which was 18.19% higher than short shares on Sep 28, 2023. In addition to SPWR as the firm’s SunPower Corporation, SPR serves as its Spirit Aerosystems Holdings, In.
Through their ownership of 94.91% of SPWR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 30.09% of SPWR, in contrast to 21.38% held by mutual funds. Shares owned by individuals account for 101.79%. As the largest shareholder in SPWR with 9.32% of the stake, BlackRock Fund Advisors holds 16,325,670 shares worth 16,325,670. A second-largest stockholder of SPWR, The Vanguard Group, Inc., holds 9,191,940 shares, controlling over 5.25% of the firm’s shares. Schroder Investment Management Lt is the third largest shareholder in SPWR, holding 7,498,414 shares or 4.28% stake. With a 3.31% stake in SPWR, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,799,737 shares are owned by the mutual fund manager. The Schroder ISF – Global Energy Tran, which owns about 2.16% of SPWR stock, is the second-largest Mutual Fund holder. It holds 3,784,849 shares valued at 16.16 million. Vanguard Total Stock Market ETF holds 1.57% of the stake in SPWR, owning 2,745,685 shares worth 11.72 million.
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 $17.80 and a low target of $2.50, the average target price over the next 12 months is $5.43. Based on these targets, SPWR could surge 289.5% to reach the target high and fall by -45.3% to reach the target low. Reaching the average price target will result in a growth of 18.82% from current levels.
Summary of Insider Activity:
Insiders traded SPWR stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 31,608 shares were bought while 10,257 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 366,230 while 123,760 shares were sold.