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After The Stock Fell -12.56% Over The Week, Is SunPower Corporation (NASDAQ: SPWR) Still A Buy?

SunPower Corporation (NASDAQ:SPWR)’s traded shares stood at 4.42 million during the last session, with the company’s beta value hitting 1.95. At the close of trading, the stock’s price was $13.50, to imply a decrease of -1.39% or -$0.19 in intraday trading. The SPWR share’s 52-week high remains $28.42, putting it -110.52% down since that peak but still an impressive 5.33% since price per share fell to its 52-week low of $12.78. The company has a valuation of $2.48B, with an average of 4.32 million shares in intraday trading volume over the past 10 days and average of 4.20 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for SunPower Corporation (SPWR), translating to a mean rating of 3.00. Of 28 analyst(s) looking at the stock, 3 analyst(s) give SPWR a Sell rating. 3 of those analysts rate the stock as Overweight while 19 advise Hold as 2 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.12.

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SunPower Corporation (NASDAQ:SPWR) trade information

After registering a -1.39% downside in the last session, SunPower Corporation (SPWR) has traded red over the past five days. The stock hit a weekly high of 15.93 this Thursday, 03/16/23, dropping -1.39% in its intraday price action. The 5-day price performance for the stock is -12.56%, and -14.83% over 30 days. With these gigs, the year-to-date price performance is -25.12%. Short interest in SunPower Corporation (NASDAQ:SPWR) saw shorts transact 15.26 million shares and set a 4.36 days time to cover.

Analysts on Wall Street suggest a consensus price target of $19.20, implying an increase of 29.69% to the stock’s current value. The extremes give us $13.00 and $27.00 for target low and target high price respectively. As such, SPWR has been trading -100.0% off suggested target high and 3.7% from its likely low.

SunPower Corporation (SPWR) estimates and forecasts

Looking at statistics comparing SunPower Corporation share performance against respective industry, we note that the company has outperformed competitors. SunPower Corporation (SPWR) shares are -51.09% down over the last 6 months, with its year-to-date growth rate higher than industry average at 21.21% against 17.50%. Revenue is forecast to grow 300.00% this quarter before jumping 500.00% for the next one. The rating firms project that company’s revenue will grow 29.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 17 analysts is $488.36 million. Meanwhile, for the quarter ending Mar 2023, a total of 14 analyst(s) estimate revenue growth to $427.95 million.Earnings reports from the last fiscal year show that sales brought in $384.53 million and $336.07 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 27.00% before jumping 27.30% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 15.00% for the past 5-year period. While 2023 is set for a -98.90% return in earnings, projections for the next 5 years are at 52.38% annually.

SPWR Dividends

SunPower Corporation has its next earnings report out between May 03 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. SunPower Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

SunPower Corporation (NASDAQ:SPWR)’s Major holders

SunPower Corporation insiders hold 0.76% of total outstanding shares, with institutional holders owning 90.05% of the shares at 90.74% float percentage. In total, 90.05% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 14.61 million shares (or 8.39% of shares), all amounting to roughly $336.63 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 8.02 million shares, or about 4.60% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $184.69 million.

We also have Invesco ETF TR II-Invesco Solar ETF and iShares Core S&P Midcap ETF as the top two Mutual Funds with the largest holdings of the SunPower Corporation (SPWR) shares. Going by data provided on Dec 30, 2022, Invesco ETF TR II-Invesco Solar ETF holds roughly 2.85 million shares. This is just over 1.64% of the total shares, with a market valuation of $51.36 million. Data from the same date shows that the other fund manager holds a little less at 2.63 million, or 1.51% of the shares, all valued at about 47.5 million.

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