If you’re on the hunt for stocks to watch today, SunPower Corporation (NASDAQ:SPWR) is a stock to give close attention to. The company shares are trading 3.58% or 0.3 points down from last closing price of $8.38, reaching $8.08 at last check. The SPWR share price has dropped in 2 of the last 5 days and is up 33.23% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -1,156,265 shares, and in total 836535 shares valued at $6.759 million were seen changing hands compared with 1.993 million shares valued at $16.7 million recorded at the previous session. You should take into consideration that a falling volume on lower prices shows the bearish trend but this is an early indication which means that the SPWR stock is near its bottom.
SunPower Corporation (SPWR) shares have notched a 3-month gain of about 33.23%, but has still advanced 68.61% year to date. By comparison, the stock sank -8.91% over the past 12 months, while it jumped 10.55% over the 1 month. The company’s market cap is around $1.07B, with its short interest ratio standing at 11.93%.
In the current trading session for SPWR, the stock witnessed two major price actions, it rose to a high of $8.42 and was down as much as $8.08 at one point. The high recorded is very low when compared to their 52-week high which is $4.55. The 52-week high is now at -15.1 distance from current price. Their recent low of $9.6 represents a 79.12% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for SPWR is $6.69, this is below the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of SunPower Corporation earned $-5.76 per share in the trailing 12 months and has a P/E ratio of -1.4. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is lower than the ones recorded by the industry which is 29.97 and lower compared to the sector’s average of 16.05. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. SPWR also has P/S multiple of 0.6. This is smaller versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 6.44x.
The company recorded an interesting insider sale transaction by the EVP on May 14, 2019. A Securities and Exchanges Commission filings show that Kenneth Lawrence Mahaffey sold a total of 32,248 SPWR shares that day for a sum of around $257,339. The filings show that the insider now retains 67,796 shares, currently worth $547,792. SunPower Corporation (SPWR) insiders have acquired 12,909 shares in the stock within the past three months. The total insider sales reported to the SEC in that time frame amounted to 221,666 shares. In total, individual insiders traded 234,575 shares in the business, which makes up 64.526% of 363,533 shares that were traded over a year. In the past 12 months, insiders have purchased 44,095 shares while the seller parted with 319,438 shares.
SPWR‘s last price was up 23.86% as compared to the average trading price of 50 days recorded at $6.52 while enlarging the period to 200 trading days, the average closing price was $7.09. At present, there are 128.13 million in the total number of common shares owned by the public and among those 62.33 million shares have been available to trade. The percentage of shares being held by the company management was 0.8% while institutions stake was 31%. The company has generated negative returns on equity over the last 12 months (0%). It managed to keep its gross profit margin at 3.4% over the past 12 months.
When assessing the full upside of the SPWR stock, there is another set of technicals that should be looked into and considered. Its 6.65% gain from moving average of $7.58 has brought about a positive sentiment when calculated over the last 20 days. The market has allocated a beta of 2.27 to the stock. With the beta been greater than one, this implies that the company shares are theoretically more volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of SunPower Corporation — 0 analysts rate the stock as a buy with another 0 rating it strong buy. There are 4 analysts who maintain a hold rating for the stock, with 3 giving it a sell rating. Analysts arrived at a 12-month price target of $6.7857 on shares of SunPower Corporation (NASDAQ:SPWR), which corresponds to 16.53% downside potential than its current market price of $8.08 and implies potential despite the recent drop in the price. However, their current target price has fallen from $6.9167 a month ago and is down handily from the consensus target of $7.2857 a quarter ago.
In the last five years, the EPS of the company has been roughly -59.7%. Though the percentage looks disappointing, extra headwinds are emerging as looking out over a next 5-year period, with analysts estimating that their earnings will decrease annually by -0.4%. The revenue of the company has retreated at an average annualized rate of about -7.2 over the last five years. The company recently recorded a drop of -29.8%, but this figure is rather unattractive.
Let’s briefly check the hedge fund interest towards SPWR stock. Metropolitan Life Insurance Co NY trimmed position in the company after it dumped -14% or 25,019 shares of its common stock. The hedge fund now owns 21,516 shares worth $173,849, SEC documents show. Jane Street Group LLC shored up assets in the stock as 78371.45 shares have been purchased, increasing its stake by 47.8% to 115,833 shares which are currently valued at $935,931. In addition, BlueCrest Capital Management Ltd recently reported that it now owns 21,143 shares making a total of $170,835 based on the recent price. This refelects a change of 30.3% in their ownership.