SunPower Co. (NASDAQ:SPWR) shot up 6.8% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $11.00 to $13.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. SunPower traded as high as $13.54 and last traded at $13.36. 9,336,352 shares traded hands during trading, an increase of 107% from the average session volume of 4,518,436 shares. The stock had previously closed at $12.51.
Several other equities research analysts have also recently weighed in on the company. Oppenheimer assumed coverage on SunPower in a research note on Thursday, August 6th. They set a “hold” rating for the company. Raymond James restated a “hold” rating on shares of SunPower in a research report on Friday, August 14th. Robert W. Baird raised shares of SunPower from a “neutral” rating to an “outperform” rating and increased their target price for the company from $10.00 to $13.00 in a research report on Friday, September 11th. BidaskClub raised shares of SunPower from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Morgan Stanley upgraded shares of SunPower from an “underweight” rating to an “equal weight” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.63.
In other news, CEO Thomas H. Werner sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $13.00, for a total value of $1,040,000.00. Following the transaction, the chief executive officer now owns 680,342 shares of the company’s stock, valued at $8,844,446. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vichheka Heang sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $12.29, for a total value of $122,900.00. Following the sale, the insider now owns 15,981 shares of the company’s stock, valued at approximately $196,406.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 170,000 shares of company stock worth $2,141,300. Corporate insiders own 1.11% of the company’s stock.
The company has a debt-to-equity ratio of 12.46, a quick ratio of 0.69 and a current ratio of 1.03. The firm has a fifty day moving average price of $11.20 and a 200 day moving average price of $8.44. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 668.33 and a beta of 2.35.
SunPower (NASDAQ:SPWR) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.26. The business had revenue of $352.91 million for the quarter, compared to analyst estimates of $314.85 million. Research analysts predict that SunPower Co. will post -0.69 earnings per share for the current fiscal year.
SunPower Company Profile (NASDAQ:SPWR)
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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