SunPower Corporation [NASDAQ: SPWR] gained 4.67% on the last trading session, reaching $25.31 price per share at the time. The company report on August 4, 2021 that SunPower Reports Second Quarter 2021 Results.
– Met Net Income and Adjusted EBITDA guidance; Strong residential margin growth.
– Expected $15 billion TAM expansion through Wallbox partnership.
SunPower Corporation represents 171.20 million in outstanding shares, while the company has a total market value of $4.34 billion with the latest information. SPWR stock price has been found in the range of $24.31 to $25.31.
If compared to the average trading volume of 3.95M shares, SPWR reached a trading volume of 5338535 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $25.28 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.
Credit Suisse have made an estimate for SunPower Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on July 14, 2021. While these analysts kept the previous recommendation, Goldman dropped their target price from $42 to $32. The new note on the price target was released on March 23, 2021, representing the official price target for SunPower Corporation stock. Previously, the target price had yet another raise to $23, while Credit Suisse analysts kept a Underperform rating on SPWR stock.
The Average True Range (ATR) for SunPower Corporation is set at 1.60, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 3.81. The Price to Book ratio for the last quarter was 12.05, with the Price to Cash per share for the same quarter was set at 3.14.
Trading performance analysis for SPWR stock
SunPower Corporation [SPWR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.52. With this latest performance, SPWR shares dropped by -12.15% in over the last four-week period, additionally sinking by -42.16% over the last 6 months – not to mention a rise of 290.47% 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 50.51, with the RSI for the last a single of trading hit 53.39, and the three-weeks RSI is set at 49.59 for SunPower Corporation [SPWR]. The present Moving Average for the last 50 days of trading for this stock 25.47, while it was recorded at 24.62 for the last single week of trading, and 28.09 for the last 200 days.
SunPower Corporation [SPWR]: A deeper dive into fundamental analysis
SunPower Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.20.
An analysis of insider ownership at SunPower Corporation [SPWR]
There are presently around $1,462 million, or 36.70% 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 0.60% of the total institutional ownership; BLACKROCK INC., holding 6,131,510 shares of the stock with an approximate value of $155.19 million in SPWR stocks shares; and INVESCO LTD., currently with $114.22 million in SPWR stock with ownership of nearly -28.125% of the company’s market capitalization.
126 institutional holders increased their position in SunPower Corporation [NASDAQ:SPWR] by around 5,972,916 shares. Additionally, 151 investors decreased positions by around 26,759,145 shares, while 38 investors held positions by with 25,030,527 shares. The mentioned changes placed institutional holdings at 57,762,588 shares, according to the latest SEC report filing. SPWR stock had 64 new institutional investments in for a total of 3,195,876 shares, while 57 institutional investors sold positions of 10,594,001 shares during the same period.