Sunpower Corp [NASDAQ: SPWR] price plunged by -1.72 percent to reach at -$0.05. The company report on March 21, 2024 at 4:30 PM that SunPower Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Annual Report on Form 10-K.
SunPower (NASDAQ:SPWR) received on March 20, 2024, a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires timely filing of all required periodic financial reports with the SEC, as a result of not having timely filed the Form 10-K with the SEC, as described more fully in the Company’s Notification of Late Filing on Form 12b-25 filed with the SEC on February 29, 2024.
The Notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq.
The one-year SPWR stock forecast points to a potential upside of 21.7. The average equity rating for SPWR stock is currently 3.65, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $3.64 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 3.65. 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.
Guggenheim have made an estimate for Sunpower Corp shares, keeping their opinion on the stock as Sell, with their previous recommendation back on February 16, 2024. While these analysts kept the previous recommendation, Susquehanna dropped their target price from $5.50 to $4. The new note on the price target was released on January 11, 2024, representing the official price target for Sunpower Corp stock. Previously, the target price had yet another drop from $6 to $4, while Wells Fargo kept a Underweight rating on SPWR stock.
The Average True Range (ATR) for Sunpower Corp is set at 0.27, 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 1.18, with the Price to Cash per share for the same quarter was set at 0.51.
SPWR Stock Performance Analysis:
Sunpower Corp [SPWR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.70. With this latest performance, SPWR shares dropped by -7.17% in over the last four-week period, additionally sinking by -47.95% over the last 6 months – not to mention a drop of -79.07% 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 47.17, with the RSI for the last a single of trading hit 48.99, and the three-weeks RSI is set at 46.16 for Sunpower Corp [SPWR]. The present Moving Average for the last 50 days of trading for this stock 3.15, while it was recorded at 2.89 for the last single week of trading, and 5.62 for the last 200 days.
Insight into Sunpower Corp Fundamentals:
Sunpower Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.64 and a Current Ratio set at 0.94.
SPWR Stock EPS
With the latest financial reports released by the company, Sunpower Corp posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -600.00%. 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.
Sunpower Corp [SPWR] Institutonal Ownership Details
The top three institutional holders of SPWR stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SPWR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SPWR stock with ownership which is approximately 5.8386%.
