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.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in SunPower by 9.4% in the first quarter. Geode Capital Management LLC now owns 813,677 shares of the semiconductor company’s stock valued at $5,296,000 after purchasing an additional 70,007 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in SunPower by 8.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 353,254 shares of the semiconductor company’s stock valued at $2,300,000 after purchasing an additional 27,677 shares in the last quarter. BSW Wealth Partners purchased a new position in SunPower in the first quarter valued at about $131,000. OZ Management LP purchased a new position in SunPower in the first quarter valued at about $382,000. Finally, The Manufacturers Life Insurance Company grew its stake in SunPower by 14.5% in the first quarter. The Manufacturers Life Insurance Company now owns 44,136 shares of the semiconductor company’s stock valued at $287,000 after purchasing an additional 5,586 shares in the last quarter. Hedge funds and other institutional investors own 27.06% of the company’s stock.

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.

WARNING: This news story was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://www.thecerbatgem.com/2019/05/15/sunpower-co-spwr-cfo-sells-65906-62-in-stock.html.

About SunPower

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.

See Also: How is the discount rate different from the Federal Funds rate?

Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.