Sunpower Corp (NASDAQ: SPWR) Could Be A Good Bet If You’re A Risk-Capital Investor

In the last trading session, 3.42 million shares of the Sunpower Corp (NASDAQ:SPWR) were traded, and its beta was 1.77. Most recently the company’s share price was $2.80, and it changed around -$0.1 or -3.45% from the last close, which brings the market valuation of the company to $491.34M. SPWR currently trades at a discount to its 52-week high of $14.92, offering almost -432.86% off that amount. The share price’s 52-week low was $2.49, which indicates that the current value has risen by an impressive 11.07% since then. We note from Sunpower Corp’s average daily trading volume that its 10-day average is 5.22 million shares, with the 3-month average coming to 7.55 million.

Sunpower Corp stock received a consensus recommendation rating of Hold, based on a mean score of 3.65. If we narrow it down even further, the data shows that 2 out of 13 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 8 recommended SPWR as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Sunpower Corp is expected to report earnings per share of -$0.26 for the current quarter.

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Sunpower Corp (NASDAQ:SPWR) trade information

Instantly SPWR has showed a red trend with a performance of -3.45% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -42.03% year-to-date, but still up 8.95% over the last five days. On the other hand, Sunpower Corp (NASDAQ:SPWR) is -11.95% down in the 30-day period. We can see from the shorts that 42.54 million shares have been sold at a short interest cover period of 5.51 day(s).

The consensus price target as assigned by Wall Street analysts is $20.55, which translates to bulls needing to increase their stock price by 86.37% from its current value. Analyst projections state that SPWR is forecast to be at a low of $14 and a high of $28.

Sunpower Corp (SPWR) estimates and forecasts

Sunpower Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -54.62 percent over the past six months and at a 31.87% annual growth rate that is well above the industry average of 8.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -271.40% in revenue this quarter, and will report a decrease of -38.50% in the next quarter. The year-over-year growth rate is expected to be -12.90%, down from the previous year.

Consensus estimates provided by 21 financial analysts predict the company will bring in an average of $330.86 million in revenue for the current quarter. 21 analysts expect Sunpower Corp to make $359.96 million in revenue for the quarter ending Jun 2024. Forecasts for the next quarter put sales growth at -24.60%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 24.51%.

SPWR Dividends

Sunpower Corp’s next quarterly earnings report is expected to be released around May 01 and May 06.

Sunpower Corp (NASDAQ:SPWR)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.73% of Sunpower Corp shares, and 121.67% of them are in the hands of institutional investors. The stock currently has a share float of 122.56%. Sunpower Corp stock is held by 343 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 11.05% of the shares, which is about 19.35 million shares worth $189.67 million.

Vanguard Group Inc, with 5.31% or 9.3 million shares worth $91.12 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 5.8 million shares worth $35.79 million, making up 3.31% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 2.75 million shares worth around $26.91 million, which represents about 1.57% of the total shares outstanding.