SunPower Corporation (NASDAQ:SPWR) saw a downside of -1.73% to close Tuesday at $8.50 after subtracting -$0.15 on the day. The 5-day average trading volume is 6,711,460 shares of the company’s common stock. It has gained $9.53 in the past week and touched a new high 1 time within the past 5 days. An average of 9,119,470 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,693,992.
SPWR’s 1-month performance is -9.09% or -$0.59 on its low of $8.22 reached on 08/08/23. The company’s shares have touched a 52-week low of $8.51 and high of $28.42, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, SPWR has lost -52.86% or -$9.53 and has reached a new high 6 times. However, the current price is down -70.09% from the 52-week high price.
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Insider Transactions
SPWR stock investors last saw insider trading activity on Mar 16.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 1.91. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.83 while the price-to-book (PB) in the most recent quarter is 3.12.
SunPower Corporation’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.60. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.67, while the total debt to equity was 0.77.. In terms of profitability, the gross margin trailing 12 months is 18.00%. The trailing 12-month EBITDA margin is 1.98% while for the period ending June 29, SunPower Corporation’s operating margin was -1.60%. The firm’s gross profit as reported stood at $363.9 million against revenue of $1.74 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -90.84% to -$33.07 million, while revenue of -$50.68 million was -53.25% off the previous quarter. Analysts expected SPWR to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.13, representing a -160.00% surprise. EBITDA for the quarter stood at more than -$8.93 million. SPWR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.1 billion, with total debt at $403.47 million. Shareholders hold equity totaling $175.19 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 08 August was 28.64% to suggest the stock is trending oversold, with historical volatility in this time period at 60.88%.
The stock’s 5-day moving average is $8.79, reflecting a -13.88% or -$1.37 change from its current price. SPWR is currently trading -10.71% above its 20-day SMA, -37.91% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -17.87% and SMA200 by-46.51%.
Stochastic %K and %D was 4.30% and 4.32% and the average true range (ATR) pointed at 0.60. The RSI (14) points at 33.71%, while the 14-day stochastic is at 7.64% with the period’s ATR at 0.62. The stock’s 9-day MACD Oscillator is pointing at -0.52 and -1.18 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for SunPower Corporation (NASDAQ: SPWR), Robert W. Baird downgraded it to a Neutral rating. They previously had an Outperform rating on the stock.
What is SPWR’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $7.00 and a high of $17.00, with their median price target at $10.00. Looking at these predictions, the average price target given by analysts is for SunPower Corporation (SPWR) stock is $10.93.
