SunPower Corporation (NASDAQ:SPWR) does about 4.37M shares in volume on a normal day but saw 11965269 shares change hands in Friday trading. The company now has a market cap of 1.88B USD. Its current market price is $11.43, marking an increase of 3.49% compared to the previous close of $11.05. The 52 week high reached by this stock is $15.57 whilst the lowest price level in 52 weeks is $4.03. The script in recent trading has seen the stock touch a high of $11.835 and a low of $10.54.
SunPower Corporation (SPWR) has a 20-day trading average at $11.69 and the current price is -26.59% off the 52-week high compared with 183.62% distance from its 52-week low. The 50-day simple moving average of the closing price is $10.03 and its 200-day simple moving average is $8.16. If we look at the stock’s price movements over the week, volatility stands at 11.03%, which decreases to 8.07% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.15 to suggest the stock is neutral.
The consensus objective for the share price is $8.29, suggesting that the stock has a potential downside of -37.88% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 13, 2020 when Cowen downgraded the stock to “Market Perform” and issued a price target of $10.
The current price level is -1.33%, 14.93%, and 40.24% away from its SMA20, SMA50, and SMA200 respectively, with the SPWR price moving below the 50-day SMA on August 28. SunPower Corporation (SPWR) stock is down -2.31% over the week and 19.81% over the past month. Its price is 46.54% year-to-date and -13.34% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.22 above consensus estimates by $0.17. SPWR’s earnings per share are forecast to shrink by -134.50% this year and 95.60% over next year. Expected sales for next quarter are $487.5 million, which analysts say will come at $1.73 billion for the current fiscal year and next year at $2.16 billion. In addition, estimates put the company’s current quarterly revenue at an average of $298.64 million.
To reach the target analysts have set, the stock logically needs to shrink -37.88 percent from here.
Outstanding shares total 170.00M with insiders holding 52.69% of the shares and institutional holders owning 46.06% of the company’s common stock. The company has a return on investment of -11.90% and return on equity of -29.00%. The price to earnings ratio (P/E ratio) amounts to 346.36. The beta has a value of 2.67. Price to book ratio is 60.16 and price to sales ratio is 1.00.
According to a U.S. Securities and Exchange Commission filing, Vanguard Explorer Fund has added its position in SunPower Corporation (SPWR) to 5,085,391 shares, mirroring a recent increase by 9.77%. Vanguard Explorer Fund added 0.45 million shares of SunPower Corporation common stock bringing its total worth to about $47.45 million at the end of recent close, SEC documents show. Vanguard Explorer Fund isn’t the only investment manager who changed stakes and is followed by Invesco Solar ETF, which added 28620.0 shares to end up with 3,772,877 shares worth $35.2 million. Federated Hermes Kaufmann Small C raise their holdings by 26.53% in the company over the course of the most recent quarter. It now holds a 1.84% position in SunPower Corporation thanks to 3.12 million shares amounting to $29.11 million.