SunPower Corporation [SPWR] Stock trading around $13.16 per share: What’s Next?

SunPower Corporation [NASDAQ: SPWR] slipped around -0.58 points on Wednesday, while shares priced at $13.16 at the close of the session, down -4.22%. The company report on March 29, 2023 that SunPower Appoints Two New Master Dealers.

Arkansas dealer Stitt Solar and Illinois-based Sun N Us receive designation for customer service excellence, superior results, dedication to SunPower brand and mission.

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SunPower (NASDAQ:SPWR), a leading residential solar technology and energy services provider, today announced it designated Stitt Solar and Sun N Us Solar LLC as Master Dealers. The Master Dealer program is designed to deliver customers the highest level of expertise and service through leading local and independent solar companies.

SunPower Corporation stock is now -27.01% down from its year-to-date (YTD) trading value. SPWR Stock saw the intraday high of $13.77 and lowest of $12.615 per share. The company’s 52-week high price is 28.42, which means current price is +9.39% above from all time high which was touched on 01/18/23.

Compared to the average trading volume of 4.45M shares, SPWR reached a trading volume of 3341324 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 $18.44 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 3.00. 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.

Morgan Stanley have made an estimate for SunPower Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on April 03, 2023. The new note on the price target was released on March 30, 2023, representing the official price target for SunPower Corporation stock. Previously, the target price had yet another raise to $16.50, while Citigroup analysts kept a Neutral rating on SPWR stock.

The Average True Range (ATR) for SunPower Corporation is set at 0.89, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 1.27. The Price to Book ratio for the last quarter was 3.99, with the Price to Cash per share for the same quarter was set at 3.04.

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 0.69. With this latest performance, SPWR shares dropped by -15.04% in over the last four-week period, additionally sinking by -46.42% over the last 6 months – not to mention a drop of -45.26% 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 43.13, with the RSI for the last a single of trading hit 44.97, and the three-weeks RSI is set at 42.05 for SunPower Corporation [SPWR]. The present Moving Average for the last 50 days of trading for this stock 15.02, while it was recorded at 13.52 for the last single week of trading, and 19.39 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 0.90 and a Current Ratio set at 1.20.

Earnings analysis for SunPower Corporation [SPWR]

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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SunPower Corporation go to 52.38%.

Insider trade positions for SunPower Corporation [SPWR]

There are presently around $893 million, or 89.70% of SPWR stock, in the hands of institutional investors. The top three institutional holders of SPWR stocks are: BLACKROCK INC. with ownership of 15,083,770, which is approximately 3.237% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 8,056,610 shares of the stock with an approximate value of $110.7 million in SPWR stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $64.65 million in SPWR stock with ownership of nearly 415.709% of the company’s market capitalization.

138 institutional holders increased their position in SunPower Corporation [NASDAQ:SPWR] by around 9,919,127 shares. Additionally, 124 investors decreased positions by around 8,558,837 shares, while 63 investors held positions by with 46,509,090 shares. The mentioned changes placed institutional holdings at 64,987,054 shares, according to the latest SEC report filing. SPWR stock had 40 new institutional investments in for a total of 1,605,270 shares, while 50 institutional investors sold positions of 4,303,741 shares during the same period.


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