SunPower Corporation [SPWR] gain 230.73% so far this year. What now?

SunPower Corporation [NASDAQ: SPWR] slipped around -0.44 points on Thursday, while shares priced at $16.89 at the close of the session, down -2.54%. The company report on October 9, 2020 that SunPower Announces Adjustments of Conversion Rates for Convertible Debentures.

SunPower (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced new conversion rates for its 0.875% Senior Convertible Debentures due 2021 (CUSIP No. 867652 AJ8) (the “2021 Debentures”) and its 4.000% Senior Convertible Debentures due 2023 (CUSIP No. 867652 AL3) (the “2023 Debentures” and, together with the 2021 Debentures, the “Debentures”). The rates were adjusted pursuant to the terms of the respective indentures governing the Debentures (the “Indentures”).

Effective September 11, 2020, the new conversion rates are 25.1388 shares of SunPower’s common stock per $1,000 principal amount of 2021 Debentures (equivalent to a conversion price of $39.78 per share) and 40.1552 shares of SunPower’s common stock per $1,000 principal amount of 2023 Debentures (equivalent to a conversion price of $24.90 per share).

SunPower Corporation stock is now 230.73% up from its year-to-date (YTD) trading value. SPWR Stock saw the intraday high of $18.25 and lowest of $16.655 per share. The company’s 52-week high price is 18.17, which means current price is +319.11% above from all time high which was touched on 10/08/20.

Compared to the average trading volume of 7.55M shares, SPWR reached a trading volume of 13024150 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about SunPower Corporation [SPWR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPWR shares is $10.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPWR stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for SunPower Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 07, 2020. The new note on the price target was released on September 18, 2020, representing the official price target for SunPower Corporation stock. Previously, the target price had yet another raise from $10 to $13, while Robert W. Baird kept a Outperform rating on SPWR stock.

The Average True Range (ATR) for SunPower Corporation is set at 1.27, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 88.89, with the Price to Cash per share for the same quarter was set at 1.40.

How has SPWR stock performed recently?

SunPower Corporation [SPWR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.42. With this latest performance, SPWR shares gained by 43.99% in over the last four-week period, additionally plugging by 310.12% over the last 6 months – not to mention a rise of 163.50% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPWR stock in for the last two-week period is set at 81.82, with the RSI for the last a single of trading hit 83.56, and the three-weeks RSI is set at 72.76 for SunPower Corporation [SPWR]. The present Moving Average for the last 50 days of trading for this stock 11.73, while it was recorded at 15.79 for the last single week of trading, and 8.77 for the last 200 days.

SunPower Corporation [SPWR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SunPower Corporation [SPWR] shares currently have an operating margin of -12.30 and a Gross Margin at +5.31. SunPower Corporation’s Net Margin is presently recorded at +1.19.

Return on Total Capital for SPWR is now -18.71, given the latest momentum, and Return on Invested Capital for the company is 1.99. When it comes to the capital structure of this company, SunPower Corporation [SPWR] has a Total Debt to Total Equity ratio set at 10,769.40. Additionally, SPWR Total Debt to Total Capital is recorded at 99.08, with Total Debt to Total Assets ending up at 50.39. Long-Term Debt to Equity for the company is recorded at 9,644.54, with the Long-Term Debt to Total Capital now at 88.73.

Reflecting on the efficiency of the workforce at the company, SunPower Corporation [SPWR] managed to generate an average of $2,638 per employee. Receivables Turnover for the company is 5.62 with a Total Asset Turnover recorded at a value of 0.82.SunPower Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.

Earnings analysis for SunPower Corporation [SPWR]

With the latest financial reports released by the company, SunPower Corporation posted 0.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 250.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPWR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SunPower Corporation go to -0.40%.

Insider trade positions for SunPower Corporation [SPWR]

There are presently around $1,153 million, or 42.70% of SPWR stock, in the hands of institutional investors. The top three institutional holders of SPWR stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 13,141,467, which is approximately 0.564% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 11,487,395 shares of the stock with an approximate value of $194.02 million in SPWR stocks shares; and BLACKROCK INC., currently with $149.11 million in SPWR stock with ownership of nearly 17.952% of the company’s market capitalization.

Positions in SunPower Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 74 institutional holders increased their position in SunPower Corporation [NASDAQ:SPWR] by around 7,456,349 shares. Additionally, 73 investors decreased positions by around 9,615,746 shares, while 51 investors held positions by with 51,188,568 shares. The mentioned changes placed institutional holdings at 68,260,663 shares, according to the latest SEC report filing. SPWR stock had 22 new institutional investments in for a total of 2,029,059 shares, while 23 institutional investors sold positions of 3,437,879 shares during the same period.

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