SunPower Co. (NASDAQ:SPWR) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 15,292,196 shares, a decline of 14.6% from the February 15th total of 17,914,672 shares. Based on an average daily volume of 2,161,412 shares, the days-to-cover ratio is presently 7.1 days. Approximately 26.8% of the shares of the company are short sold.
SunPower (SPWR) opened at $7.28 on Tuesday. The company has a debt-to-equity ratio of 5.05, a quick ratio of 0.91 and a current ratio of 1.23. SunPower has a 12-month low of $5.84 and a 12-month high of $11.70. The stock has a market capitalization of $1,020.00, a price-to-earnings ratio of -1.85 and a beta of 2.69.
SunPower (NASDAQ:SPWR) last announced its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.34. SunPower had a negative return on equity of 8.74% and a negative net margin of 45.47%. The company had revenue of $824.00 million during the quarter, compared to analyst estimates of $796.62 million. During the same quarter in the previous year, the firm posted ($0.64) EPS. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. sell-side analysts expect that SunPower will post -1.29 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the company. ValuEngine lowered SunPower from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. UBS Group lowered SunPower from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. reduced their price objective on SunPower from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, February 15th. Oppenheimer reiterated a “market perform” rating and set a $10.00 price target on shares of SunPower in a research report on Thursday, February 15th. Finally, Credit Suisse Group began coverage on SunPower in a research report on Monday, February 12th. They set a “neutral” rating and a $7.20 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.22.
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SunPower Company Profile
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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