What SunPower Corporation (SPWR) Insiders Are Up To

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SunPower Corporation (NASDAQ:SPWR) finished Wednesday with an addition of $0.01 to close at $26.48, an upside of 0.04 percent. An average of 3,754,700 shares of common stock have been traded in the last five days. There was a fall of -$1.12 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 3,534,780 shares traded, while the 50-day average volume stands at 3,338,590.

SPWR stock has increased by 7.60% in the last month. The company shares reached their 1-month lowest point of $22.40 on 09/06/22. With the stock rallying to its 52-week high on 09/12/22, shares of the company touched a low of $12.78 and a high of $34.61 in 52 weeks. It has reached a new high 9 times so far this year and achieved 26.88% or $5.61 in price. In spite of this, the price is down -23.49% from the 52-week high.

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Insider Transactions

38 days have passed since SunPower Corporation (SPWR) last reported insider trading activity. Sial Manavendra, who is EVP and CFO, most recently acquired $25,000 shares at $26.63 per share on Aug 15. In this transaction, the insider spent $665,668. EVP, Administration, Richards Douglas J., disposed of 23,912 shares at a price of $25.90 on Aug 10. The insider now owns more than $619,378 worth of shares. Prior to that, Principal Accounting Officer Heang Vichheka went on to Sale 14,000 shares at $24.95 each on Aug 10. An amount of $349,338 was transacted.

Valuation Metrics

SunPower Corporation (SPWR) stock’s beta is 2.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.11, the price-to-book (PB) ratio at 11.13.

Financial Health

The quick ratio of SunPower Corporation for the three months ended June 29 was 0.90, and the current ratio was 1.20, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.14 and a total debt to equity ratio of 1.32 for the quarter ending June 29. Its gross profit as reported stood at $221.61 million compared to revenue of $1.32 billion.

Earnings Surprise

For the three-month period that ended June 29, SunPower Corporation had $293.58 million in cash and short-term investments compared to $54.13 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$63.11 million in the quarter, while revenues of -$27.87 million were grew 219.17%. The analyst consensus anticipated SunPower Corporation’s latest quarter earnings to come in at $0.04 per share, but it turned out to be $0.03, a -25.00% surprise. For the quarter, EBITDA amounted to -$5.58 million. Shareholders own equity worth $174.09 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at SunPower Corporation (SPWR) price momentum. RSI 9-day as of the close on 21 September was 52.32%, suggesting the stock is Neutral, with historical volatility in this time frame at 41.22%.

As of today, SPWR’s price is $26.74 -4.06% or -$1.12 from its 5-day moving average. SPWR is currently trading +7.77% higher than its 20-day SMA and +54.13% higher than its 100-day SMA. However, the stock’s current price level is +63.36% above the SMA50 and +8.35% above the SMA200.

The stochastic %K and %D were 73.86% and 74.57%, respectively, and the average true range (ATR) was 1.46. With the 14-day stochastic at 67.77% and the average true range at 1.44, the RSI (14) stands at 55.55%. The stock has reached -0.26 on the 9-day MACD Oscillator while the 14-day reading was at 0.49.

Analyst Ratings

Barclays launched coverage on SunPower Corporation (NASDAQ: SPWR) in its analyst report released on August 05, 2022. The firm assigned the stock an Equal weight rating. The consensus rating for SunPower Corporation (SPWR) among analysts is Hold. According to current brokerage recommendations, 4 brokerage firms advise that investors sell SPWR, while 12 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 1 others rate it as a “buy”.

What is SPWR’s price target for the next 12 months?

Analysts predict a range of price targets between $18.00 and $31.00, with a median target of $23.00. Taking a look at these predictions, the average price target given by analysts for SunPower Corporation (SPWR) stock is $23.65.


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