SunPower Corporation [SPWR] Is Currently 10.85 below its 200 Period Moving Avg: What Does This Mean?

SunPower Corporation [NASDAQ: SPWR] gained 10.85% or 1.83 points to close at $18.69 with a heavy trading volume of 10673627 shares. The company report on November 8, 2022 that SunPower Reports Third Quarter 2022 Results.

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Added a record 23,000 customers in the third quarter, a 63% increase YoY.

It opened the trading session at $18.90, the shares rose to $19.50 and dropped to $18.00, the range by which the price of stock traded the whole day. The daily chart for SPWR points out that the company has recorded 17.62% gains over the past six months. However, it is still -46.24% lower than its most recent low trading price.

If we look at the average trading volume of 3.55M shares, SPWR reached to a volume of 10673627 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 $21.88 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.

Susquehanna have made an estimate for SunPower Corporation shares, keeping their opinion on the stock as Positive, with their previous recommendation back on October 17, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $22 to $18. The new note on the price target was released on October 11, 2022, representing the official price target for SunPower Corporation stock. Previously, the target price had yet another raise to $26, while Barclays analysts kept a Equal Weight rating on SPWR stock.

The Average True Range (ATR) for SunPower Corporation is set at 1.41, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 7.85, with the Price to Cash per share for the same quarter was set at 2.83.

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 2.41. With this latest performance, SPWR shares dropped by -12.95% in over the last four-week period, additionally plugging by 17.62% over the last 6 months – not to mention a drop of -42.08% 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 48.98, with the RSI for the last a single of trading hit 55.01, and the three-weeks RSI is set at 46.41 for SunPower Corporation [SPWR]. The present Moving Average for the last 50 days of trading for this stock 21.77, while it was recorded at 17.70 for the last single week of trading, and 19.53 for the last 200 days.

SunPower Corporation [SPWR]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at SunPower Corporation [SPWR]

There are presently around $1,178 million, or 89.30% 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 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 8,182,137 shares of the stock with an approximate value of $152.92 million in SPWR stocks shares; and STATE STREET CORP, currently with $86.91 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 November and at the time of the November reporting period, where 126 institutional holders increased their position in SunPower Corporation [NASDAQ:SPWR] by around 8,229,429 shares. Additionally, 124 investors decreased positions by around 6,888,898 shares, while 61 investors held positions by with 47,896,581 shares. The mentioned changes placed institutional holdings at 63,014,908 shares, according to the latest SEC report filing. SPWR stock had 43 new institutional investments in for a total of 2,342,553 shares, while 37 institutional investors sold positions of 1,888,461 shares during the same period.


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