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.
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.
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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