Barclays slashes price target on SunPower Corporation [SPWR] – find out why.

SunPower Corporation [NASDAQ: SPWR] surged by $3.41 during the normal trading session on Wednesday and reaching a high of $27.43 during the day while it closed the day at $27.37. The company report on August 31, 2022 that Fluence Energy, Inc. Announces CFO Transition.

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Fluence Appoints Manavendra Sial as Chief Financial Officer.

Fluence Energy, Inc. (Nasdaq: FLNC) (“Fluence” or the “Company”), a leading global provider of energy storage products and services, and cloud-based software for renewables and storage, today announced that Manavendra (Manu) Sial will succeed Dennis Fehr as Senior Vice President and Chief Financial Officer of the Company, effective mid-September. Mr. Fehr will continue to provide his guidance to the Company as a non-executive employee until his departure from the Company on October 15, 2022.

SunPower Corporation stock has also gained 13.43% of its value over the past 7 days. However, SPWR stock has inclined by 41.37% in the 3 months of the year. Over the past six months meanwhile, it has gained 32.48% and gained 31.15% year-on date.

The market cap for SPWR stock reached $4.82 billion, with 173.95 million shares outstanding and 40.79 million shares in the current float. Compared to the average trading volume of 2.97M shares, SPWR reached a trading volume of 8815462 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $21.93 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.

Barclays have made an estimate for SunPower Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on August 05, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Underweight. The new note on the price target was released on June 29, 2022, representing the official price target for SunPower Corporation stock. Previously, the target price had yet another drop from $19 to $13, while Goldman kept a Sell rating on SPWR stock.

The Average True Range (ATR) for SunPower Corporation is set at 1.53, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 3.26. The Price to Book ratio for the last quarter was 11.50, with the Price to Cash per share for the same quarter was set at 2.84.

SPWR stock trade performance evaluation

SunPower Corporation [SPWR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.43. With this latest performance, SPWR shares gained by 13.85% in over the last four-week period, additionally plugging by 32.48% over the last 6 months – not to mention a rise of 24.64% 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 67.28, with the RSI for the last a single of trading hit 70.38, and the three-weeks RSI is set at 65.38 for SunPower Corporation [SPWR]. The present Moving Average for the last 50 days of trading for this stock 20.94, while it was recorded at 24.25 for the last single week of trading, and 19.78 for the last 200 days.

SunPower Corporation [SPWR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SunPower Corporation [SPWR] shares currently have an operating margin of -1.72 and a Gross Margin at +16.62. SunPower Corporation’s Net Margin is presently recorded at -2.82.

Return on Equity for this stock declined to -9.43, with Return on Assets sitting at -2.33.

SunPower Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

SunPower Corporation [SPWR]: Insider Ownership positions

There are presently around $1,745 million, or 39.40% of SPWR stock, in the hands of institutional investors. The top three institutional holders of SPWR stocks are: BLACKROCK INC. with ownership of 14,872,042, which is approximately 16.241% of the company’s market cap and around 25.50% of the total institutional ownership; VANGUARD GROUP INC, holding 8,182,137 shares of the stock with an approximate value of $223.94 million in SPWR stocks shares; and STATE STREET CORP, currently with $127.27 million in SPWR stock with ownership of nearly -0.933% 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 120 institutional holders increased their position in SunPower Corporation [NASDAQ:SPWR] by around 9,336,362 shares. Additionally, 126 investors decreased positions by around 5,934,526 shares, while 61 investors held positions by with 48,493,101 shares. The mentioned changes placed institutional holdings at 63,763,989 shares, according to the latest SEC report filing. SPWR stock had 33 new institutional investments in for a total of 2,716,660 shares, while 40 institutional investors sold positions of 1,989,348 shares during the same period.


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