Is SunPower Corporation (SPWR) Good For Your Portfolio?

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SunPower Corporation (NASDAQ:SPWR) saw an upside of 0.49% to close Monday at $16.41 after adding $0.08 on the day. The 5-day average trading volume is 4,545,080 shares of the company’s common stock. It has gained $19.32 in the past week and touched a new high 2 times within the past 5 days. An average of 3,572,025 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,540,030.

SPWR’s 1-month performance is -17.58% or -$2.25 on its low of $16.01 reached on 01/20/23. The company’s shares have touched a 52-week low of $12.78 and high of $28.42, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, SPWR has lost -8.99% or -$1.62 and has reached a new high 6 times. However, the current price is down -42.26% from the 52-week high price.

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Insider Transactions

SPWR stock investors last saw insider trading activity on Nov 14.Heang Vichheka (Principal Accounting Officer) most recently sold 3,500 shares at $22.01 per share on Nov 14. This transaction cost the insider $77,042. EVP and CFO, Sial Manavendra, sold 25,000 shares at a price of $26.63 on Aug 15. Then, on Aug 10, EVP, Administration Richards Douglas J. sold 23,912 shares at a price of $25.90 per share. This transaction amounted to $619,378.

Valuation Metrics

SPWR stock has a beta of 1.96. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.78 while the price-to-book (PB) in the most recent quarter is 5.13.

SunPower Corporation’s quick ratio for the period ended September 29 was 1.10, with the current ratio over the same period at 1.30. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.14, while the total debt to equity was 0.91. In terms of profitability, the gross margin trailing 12 months is 19.10%. The firm’s gross profit as reported stood at $221.61 million against revenue of $1.32 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, SunPower Corporation’s cash and short-term investments amounted to $138.74 million against total debt of $549.66 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 160.53% to $139.41 million, while revenue of -$63.11 million was 145.27% off the previous quarter. Analysts expected SPWR to announce $0.08 per share in earnings in its latest quarter, but it posted $0.13, representing a 62.50% surprise. EBITDA for the quarter stood at more than $20.54 million. SPWR stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 1.15 billion, with total debt at $549.66 million. Shareholders hold equity totaling $174.18 million.

Let’s look briefly at SunPower Corporation (SPWR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 31.34% to suggest the stock is trending Neutral, with historical volatility in this time period at 72.65%.

The stock’s 5-day moving average is $17.31, reflecting a -12.06% or -$2.25 change from its current price. SPWR is currently trading -18.40% above its 20-day SMA, -33.54% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -12.20% and SMA200 by-30.11%.

Stochastic %K and %D was 10.70% and 32.62% and the average true range (ATR) pointed at 1.02. The RSI (14) points at 34.51%, while the 14-day stochastic is at 12.08% with the period’s ATR at 1.04. The stock’s 9-day MACD Oscillator is pointing at -1.36 and -1.12 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for SunPower Corporation (NASDAQ: SPWR), Wells Fargo upgraded it to an Equal weight rating. They previously had an Underweight rating on the stock. Analysts offering their rating for SPWR stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate SPWR as a “sell,”, while 15 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 2 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $16.00 and a high of $32.00, with their median price target at $22.00. Looking at these predictions, the average price target given by analysts is for SunPower Corporation (SPWR) stock is $22.29.

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