SunPower Co. (SPWR) CFO Sells $65,906.62 in Stock
SunPower Co. (NASDAQ:SPWR) CFO Manavendra Sial sold 8,177 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $8.06, for a total value of $65,906.62. Following the sale, the chief financial officer now directly owns 8,178 shares in the company, valued at $65,914.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NASDAQ:SPWR traded up $0.15 during trading hours on Wednesday, hitting $8.12. 1,838,216 shares of the company’s stock traded hands, compared to its average volume of 1,767,180. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -9.23 and a beta of 2.32. SunPower Co. has a twelve month low of $4.55 and a twelve month high of $9.60. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 39.39.
SunPower (NASDAQ:SPWR) last issued its earnings results on Thursday, May 9th. The semiconductor company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.05. SunPower had a negative return on equity of 2,775.24% and a negative net margin of 46.65%. The firm had revenue of $348.22 million for the quarter, compared to the consensus estimate of $387.93 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. Equities analysts forecast that SunPower Co. will post -0.89 earnings per share for the current year.
SPWR has been the topic of several recent analyst reports. BidaskClub raised SunPower from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 21st. ValuEngine raised SunPower from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Morgan Stanley set a $6.00 price target on SunPower and gave the company a “sell” rating in a research report on Wednesday, May 8th. Bank of America lowered SunPower from a “neutral” rating to an “underperform” rating and set a $6.00 price target on the stock. in a research report on Friday, February 15th. Finally, JPMorgan Chase & Co. initiated coverage on SunPower in a research report on Thursday, April 11th. They set a “neutral” rating and a $7.50 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.97.
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SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
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