In the last trading session, 7,023,061 shares of the SunPower Corporation(NASDAQ:SPWR) were traded, and its beta was 2.12. Most recently the company’s share price was $37.76, and it changed around $1.43 or 0.04% from the last close, which brings the market valuation of the company to $6.43 Billion. SPWR currently trades at a discount to its 52-week high of $57.52, offering almost -52.33% off that amount. The share price’s 52-week low was $2.64, which indicates that the current value has risen by an impressive 93.01% since then. We note from SunPower Corporation’s average daily trading volume that its 10-day average is 6.59 Million shares, with the 3-month average coming to 8.85 Million.
SunPower Corporation stock received a consensus recommendation rating of Hold, based on a mean score of 3. If we narrow it down even further, the data shows that 3 out of 16 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 9 recommended SPWR as a Hold, whereas 2 deemed it a Buy, and 1 rated it as Underweight. SunPower Corporation is expected to report earnings per share of $0.02 for the current quarter.
SunPower Corporation (NASDAQ:SPWR): Trading Information
Instantly SPWR has showed a green trend with a performance of 3.94% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $50.46 on Friday, Feb 12 increased the stock’s daily price by 25.17%. The company’s shares are currently up 0.47% year-to-date, but still down -0.2442 over the last five days. On the other hand, SunPower Corporation (NASDAQ:SPWR) is 0.02% up in the 30-day period. We can see from the shorts that 25.84 Million shares have been sold at a short interest cover period of 2.92 day(s).
The consensus price target as assigned by Wall Street analysts is $30.69, which translates to bears needing to reduce their stock price by -18.72% from its current value. Analyst projections state that SPWR is forecast to be at a low of $13 and a high of $49. In order for the stock price to hit the forecast high, the stock would need to surge +29.77% from its current level, while the stock would need to crash -65.57% from its current level to reach the projected low.
SunPower Corporation (SPWR) projections and forecasts
SunPower Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +384.23 percent over the past six months and at a -728.57% annual growth rate that is well below the industry average of 19.5%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +122.2% in revenue this quarter, and will report an increase of 180% in the next quarter. The year-over-year growth rate is expected to be 31.9%, up from the previous year.
Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $316.13 Million in revenue for the current quarter. 10 analysts expect SunPower Corporation to make $341.64 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $454.38 Million and $352.91 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -30.4%. Forecasts for the next quarter put sales growth at -3.2%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -37.3%. SunPower Corporation earnings are expected to increase by 102.6% in 2021, but the outlook is negative 0% per year for the next five years.
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SunPower Corporation (NASDAQ:SPWR)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 52.41% of SunPower Corporation shares, and 48.91% of them are in the hands of institutional investors. The stock currently has a share float of 102.78%. SunPower Corporation stock is held by 301 institutions, with Wellington Management Company, LLP being the largest institutional investor. By Sep 29, 2020, it held 7.25% of the shares, which is about 12.34 Million shares worth $154.33 Million.
Vanguard Group, Inc. (The), with 6.03% or 10.26 Million shares worth $128.37 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.