SunPower Co. (NASDAQ:SPWR) CFO Manavendra Sial sold 42,322 shares of SunPower stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $25.00, for a total value of $1,058,050.00. Following the sale, the chief financial officer now directly owns 50,540 shares of the company’s stock, valued at $1,263,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Manavendra Sial also recently made the following trade(s):
- On Friday, May 7th, Manavendra Sial sold 11,116 shares of SunPower stock. The shares were sold at an average price of $23.09, for a total value of $256,668.44.
NASDAQ SPWR opened at $26.44 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.20 and a quick ratio of 1.74. The stock’s 50 day simple moving average is $25.47. SunPower Co. has a 12-month low of $6.92 and a 12-month high of $57.52. The firm has a market cap of $4.56 billion, a PE ratio of 12.30 and a beta of 2.08.
Several analysts have recently weighed in on the company. Credit Suisse Group reissued an “underperform” rating and issued a $23.00 target price on shares of SunPower in a report on Monday, March 1st. Barclays reduced their target price on SunPower from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Thursday, May 6th. Robert W. Baird reissued a “buy” rating on shares of SunPower in a report on Monday, March 29th. Piper Sandler reduced their target price on SunPower from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, March 9th. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their target price on SunPower from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Tuesday, April 20th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. SunPower has a consensus rating of “Hold” and an average price target of $26.42.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPWR. Trustcore Financial Services LLC acquired a new position in SunPower during the 4th quarter worth approximately $26,000. Baillie Gifford & Co. acquired a new stake in shares of SunPower in the 4th quarter worth approximately $38,000. Close Asset Management Ltd acquired a new stake in shares of SunPower in the 1st quarter worth approximately $40,000. Ameritas Investment Company LLC acquired a new stake in shares of SunPower in the 1st quarter worth approximately $45,000. Finally, Retirement Group LLC acquired a new stake in shares of SunPower in the 4th quarter worth approximately $58,000. Institutional investors own 32.61% of the company’s stock.
SunPower Corporation delivers solar solutions worldwide. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar energy solutions, including sales to its third-party dealer network and resellers, storage solutions, cash and loan sales, and long-term leases directly to end customers; and sells turn-key engineering, procurement, and construction services, as well as sells energy under power purchase agreements.
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