SunPower Corporation [SPWR] Stock trading around $24.02 per share: What’s Next?

SunPower Corporation [NASDAQ: SPWR] stock went on a downward path that fall over -7.76% on Tuesday, amounting to a one-week price decrease of less than -3.92%. The company report on June 3, 2021 that SunPower Further Delevers Balance Sheet With 2021 Convertible Bond Retirement.

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SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, announced it has further delevered its balance sheet with the full retirement of its 2021 convertible bond.

“The full repayment of our 2021 convertible bond, in addition to the repayment of our CEDA loan in the second quarter, materially reduces recourse debt while improving our expected return on invested capital,” said Peter Faricy, CEO of SunPower. “We believe our balance sheet now provides us the business model flexibility to quickly capitalize on new growth opportunities including expanding our residential market footprint and enabling further investment to drive a superior customer experience.”.

Over the last 12 months, SPWR stock rose by 398.46%. The one-year SunPower Corporation stock forecast points to a potential upside of 4.68. The average equity rating for SPWR stock is currently 3.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.23 billion, with 171.20 million shares outstanding and 79.25 million shares in the current float. Compared to the average trading volume of 4.05M shares, SPWR stock reached a trading volume of 5364916 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $25.20 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 3.10. 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.

Goldman have made an estimate for SunPower Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 23, 2021. The new note on the price target was released on February 22, 2021, representing the official price target for SunPower Corporation stock. Previously, the target price had yet another raise to $27, while Morgan Stanley analysts kept a Underweight rating on SPWR stock.

The Average True Range (ATR) for SunPower Corporation is set at 1.66, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 3.71. The Price to Book ratio for the last quarter was 11.44, with the Price to Cash per share for the same quarter was set at 3.06.

SPWR Stock Performance Analysis:

SunPower Corporation [SPWR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.92. With this latest performance, SPWR shares gained by 8.00% in over the last four-week period, additionally plugging by 11.72% over the last 6 months – not to mention a rise of 398.46% 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 48.05, with the RSI for the last a single of trading hit 47.83, and the three-weeks RSI is set at 46.95 for SunPower Corporation [SPWR]. The present Moving Average for the last 50 days of trading for this stock 25.21, while it was recorded at 25.37 for the last single week of trading, and 25.80 for the last 200 days.

Insight into SunPower Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and SunPower Corporation [SPWR] shares currently have an operating margin of -1.53 and a Gross Margin at +14.86. SunPower Corporation’s Net Margin is presently recorded at +53.28.

Return on Total Capital for SPWR is now -1.56, given the latest momentum, and Return on Invested Capital for the company is 62.53. Return on Equity for this stock inclined to 289.31, with Return on Assets sitting at 31.39. When it comes to the capital structure of this company, SunPower Corporation [SPWR] has a Total Debt to Total Equity ratio set at 171.17. Additionally, SPWR Total Debt to Total Capital is recorded at 63.12, with Total Debt to Total Assets ending up at 42.02. Long-Term Debt to Equity for the company is recorded at 129.28, with the Long-Term Debt to Total Capital now at 47.67.

Reflecting on the efficiency of the workforce at the company, SunPower Corporation [SPWR] managed to generate an average of $272,434 per employee. Receivables Turnover for the company is 3.66 with a Total Asset Turnover recorded at a value of 0.59.SunPower Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.20.

SPWR Stock EPS

With the latest financial reports released by the company, SunPower Corporation posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.39/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 74.40%. 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.

SunPower Corporation [SPWR] Insider Position Details

There are presently around $1,373 million, or 35.40% of SPWR stock, in the hands of institutional investors. The top three institutional holders of SPWR stocks are: VANGUARD GROUP INC with ownership of 8,336,565, which is approximately -13.812% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 6,131,510 shares of the stock with an approximate value of $147.28 million in SPWR stocks shares; and INVESCO LTD., currently with $108.4 million in SPWR stock with ownership of nearly -28.125% of the company’s market capitalization.

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Positions in SunPower Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 132 institutional holders increased their position in SunPower Corporation [NASDAQ:SPWR] by around 5,863,199 shares. Additionally, 143 investors decreased positions by around 27,443,816 shares, while 38 investors held positions by with 23,833,063 shares. The mentioned changes placed institutional holdings at 57,140,078 shares, according to the latest SEC report filing. SPWR stock had 75 new institutional investments in for a total of 3,467,230 shares, while 51 institutional investors sold positions of 11,009,071 shares during the same period.

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