For SunPower Corporation [SPWR], Analyst sees a rise to $18. What next?



SunPower Corporation [NASDAQ: SPWR] traded at a low on 05/05/22, posting a -5.14 loss after which it closed the day’ session at $18.08. The company report on May 5, 2022 that SunPower Reports First Quarter 2022 Results.

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Recorded $350 million GAAP revenue, including record-high $336 million non-GAAP residential revenue, 41% year-over-year residential growth.

The results of the trading session contributed to over 3645686 shares changing hands. Over the past one week, the price volatility of SunPower Corporation stands at 7.08% while the volatility over the past one month is 6.39%.

The market cap for SPWR stock reached $3.27 billion, with 173.02 million shares outstanding and 81.31 million shares in the current float. Compared to the average trading volume of 3.69M shares, SPWR reached a trading volume of 3645686 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 $20.46 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.

Truist have made an estimate for SunPower Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 02, 2022. The new note on the price target was released on April 04, 2022, representing the official price target for SunPower Corporation stock. Previously, the target price had yet another raise from $14 to $17, while UBS kept a Neutral rating on SPWR stock. On January 24, 2022, analysts decreased their price target for SPWR shares from 35 to 20.

The Average True Range (ATR) for SunPower Corporation is set at 1.28, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 2.47. The Price to Book ratio for the last quarter was 8.07, with the Price to Cash per share for the same quarter was set at 2.73.

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 5.24. With this latest performance, SPWR shares dropped by -23.00% in over the last four-week period, additionally sinking by -45.13% over the last 6 months – not to mention a drop of -19.86% 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 44.22, with the RSI for the last a single of trading hit 44.95, and the three-weeks RSI is set at 45.15 for SunPower Corporation [SPWR]. The present Moving Average for the last 50 days of trading for this stock 19.74, while it was recorded at 17.65 for the last single week of trading, and 22.36 for the last 200 days.

SunPower Corporation [SPWR]: Deeper insight into the fundamentals

SunPower Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.10.

Insider trade positions for SunPower Corporation [SPWR]

There are presently around $1,204 million, or 38.90% of SPWR stock, in the hands of institutional investors. The top three institutional holders of SPWR stocks are: BLACKROCK INC. with ownership of 12,279,728, which is approximately 39.296% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 8,357,118 shares of the stock with an approximate value of $159.29 million in SPWR stocks shares; and INVESCO LTD., currently with $95.85 million in SPWR stock with ownership of nearly -1.446% of the company’s market capitalization.

155 institutional holders increased their position in SunPower Corporation [NASDAQ:SPWR] by around 12,940,880 shares. Additionally, 98 investors decreased positions by around 6,919,504 shares, while 50 investors held positions by with 43,320,154 shares. The mentioned changes placed institutional holdings at 63,180,538 shares, according to the latest SEC report filing. SPWR stock had 47 new institutional investments in for a total of 1,031,865 shares, while 38 institutional investors sold positions of 4,093,719 shares during the same period.