Thomas H. Werner Sells 90,000 Shares of SunPower Co. (NASDAQ:SPWR) Stock

SunPower Co. (NASDAQ:SPWR) CEO Thomas H. Werner sold 90,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $13.46, for a total transaction of $1,211,400.00. Following the completion of the sale, the chief executive officer now directly owns 537,165 shares of the company’s stock, valued at approximately $7,230,240.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SPWR traded down $1.66 on Monday, hitting $13.44. 5,994,328 shares of the stock were exchanged, compared to its average volume of 2,195,908. SunPower Co. has a 12 month low of $4.55 and a 12 month high of $16.04. The company has a 50-day moving average of $10.94. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -15.27 and a beta of 2.33.

SunPower (NASDAQ:SPWR) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.12). SunPower had a negative return on equity of 83.67% and a negative net margin of 12.95%. The firm had revenue of $481.90 million for the quarter, compared to the consensus estimate of $444.23 million. During the same period in the prior year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that SunPower Co. will post -0.59 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC lifted its position in SunPower by 55,714.3% during the first quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 3,900 shares during the period. Exane Derivatives lifted its position in SunPower by 36.3% during the first quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 1,625 shares during the period. Trust Co. of Vermont lifted its position in SunPower by 14.0% during the first quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 1,400 shares during the period. Legal & General Group Plc lifted its position in SunPower by 11.7% during the fourth quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 2,214 shares during the period. Finally, ETF Managers Group LLC lifted its position in SunPower by 9.8% during the first quarter. ETF Managers Group LLC now owns 17,937 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 1,598 shares during the period. 27.75% of the stock is owned by institutional investors and hedge funds.

SPWR has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of SunPower in a research report on Thursday, April 11th. They issued a “neutral” rating and a $7.50 target price for the company. Credit Suisse Group raised shares of SunPower from a “neutral” rating to an “outperform” rating in a research report on Thursday. Barclays reissued a “sell” rating and issued a $6.00 target price on shares of SunPower in a research report on Monday. Zacks Investment Research raised shares of SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Tuesday, April 16th. Finally, BidaskClub raised shares of SunPower from a “hold” rating to a “buy” rating in a research report on Saturday. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. SunPower currently has an average rating of “Hold” and an average price target of $7.84.

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.

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