In the last trading session, 3,614,819 SunPower Corporation (NASDAQ:SPWR) shares changed hands as the company’s beta touched 2.14. With the company’s per share price at $25.41 changed hands at $0.04 or 0% during last session, the market valuation stood at $4.38 Billion. SPWR’s last price was a discount, traded about -126.37% off its 52-week high of $57.52. The share price had its 52-week low at $4.53, which suggests the last value was 82.17% up since then. When we look at SunPower Corporation’s average trading volume, we note the 10-day average is 5.11 Million shares, with the 3-month average coming to 4.06 Million.
Analysts gave the SunPower Corporation (SPWR) stock a consensus recommendation rating of Hold, calculated at a mean rating of 3.1. If we narrow down to specifics, the data shows that 4 out of 15 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 8 recommended SPWR as a Hold, none felt it is a Buy and 1 rated the stock as Underweight. SunPower Corporation’s EPS for the current quarter is expected to be $0.03.
SunPower Corporation (NASDAQ:SPWR) trade information
Instantly SPWR was in green as seen at the end of in last trading. With action 0.16%, the performance over the past five days has been red. The jump to weekly highs of $26.96 on Thursday, Jun 17 added 5.75% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.01%, with the 5-day performance at -0.02% in the red. However, in the 30-day time frame, SunPower Corporation (NASDAQ:SPWR) is 0.08% up. Looking at the short shares, we see there were 15.37 Million shares sold at short interest cover period of 3.79 days.
The consensus price target for the stock as assigned by Wall Street analysts is $24.08, meaning bulls need a downside of -5.23% from its current market value. According to analyst projections, SPWR’s forecast low is $12 with $35 as the target high. To hit the forecast high, the stock’s price needs a +37.74% upsurge from its current level, while the stock would need to tank -52.77% for it to hit the projected low.
SunPower Corporation (SPWR) estimates and forecasts
Data shows that the SunPower Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +3.21% over the past 6 months, a 671.43% in annual growth rate that is considerably higher than the industry average of 10.4%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for SunPower Corporation will rise +130%, while the growth in revenue is estimated to hit 400% for the next quarter. Year-over-year growth is forecast to reach 34.1% up from the last financial year.
Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $327.48 Million. 12 analysts are of the opinion that SunPower Corporation’s revenue for the quarter ending September 01, 2021 will be $402.55 Million. The company’s revenue for the corresponding quarters a year ago was $352.91 Million and $274.81 Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -7.2%. The estimates for the next quarter sales put growth at 46.5%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 33.5%. The 2021 estimates are for SunPower Corporation earnings to increase by 136.7%, but the outlook for the next 5-year period is at 0% per year.
SunPower Corporation (NASDAQ:SPWR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 54.06% of SunPower Corporation shares while 35.37% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 77%. There are 393 institutions holding the SunPower Corporation stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 4.83% of the shares, roughly 8.34 Million SPWR shares worth $278.86 Million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.55% or 6.13 Million shares worth $205.1 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Jan 30, 2021 were Federated Hermes Kaufmann Small Cap Fund and Invesco ETF TR II-Invesco Solar ETF. With 3120000 shares estimated at $168.51 Million under it, the former controlled 1.81% of total outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held about 1.73% of the shares, roughly 2.98 Million shares worth around $69.75 Million.