Sunpower Corp [NASDAQ: SPWR] loss -10.20% or -0.35 points to close at $3.08 with a heavy trading volume of 9036498 shares. The company report on February 1, 2024 at 8:30 AM that SunPower Provides Update on Discussions with Key Financial Partners.
SunPower Corp. (NASDAQ:SPWR) (the “Company” or “SunPower”), a leading residential solar technology and energy services provider, today announced that it has received additional waiver extensions from Atlas Securitized Products Holdings, L.P., and Bank of America, providing for the extension of the latest temporary waivers until February 16, 2024.
Additionally, the Company announced the receipt of commitments for $20 million in financing from its majority shareholders TotalEnergies and Global Infrastructure Partners.
The daily chart for SPWR points out that the company has recorded -64.48% loss over the past six months.
If we look at the average trading volume of 7.87M shares, SPWR reached to a volume of 9036498 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 Corp [SPWR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPWR shares is $3.96 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 3.48. 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 Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 11, 2024.
The Average True Range (ATR) for Sunpower Corp is set at 0.40, with the Price to Sales ratio for SPWR stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 0.61.
Trading performance analysis for SPWR stock
Sunpower Corp [SPWR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.47. With this latest performance, SPWR shares dropped by -23.95% in over the last four-week period, additionally sinking by -64.48% over the last 6 months – not to mention a drop of -83.04% 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 41.85, with the RSI for the last a single of trading hit 41.95, and the three-weeks RSI is set at 42.12 for Sunpower Corp [SPWR]. The present Moving Average for the last 50 days of trading for this stock 4.14, while it was recorded at 3.27 for the last single week of trading, and 7.32 for the last 200 days.
Sunpower Corp [SPWR]: A deeper dive into fundamental analysis
Sunpower Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.47 and a Current Ratio set at 0.85.
Sunpower Corp [SPWR]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Sunpower Corp posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.40%. 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.
An analysis of Institutional ownership at Sunpower Corp [SPWR]
The top three institutional holders of SPWR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SPWR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SPWR stock with ownership which is approximately 5.8325%.
