SunPower Co. (NASDAQ:SPWR) EVP Douglas J. Richards sold 60,953 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $14.14, for a total transaction of $861,875.42. Following the completion of the transaction, the executive vice president now owns 30,476 shares in the company, valued at $430,930.64. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of SPWR stock opened at $14.75 on Thursday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -16.76 and a beta of 2.33. SunPower Co. has a 1-year low of $4.55 and a 1-year high of $16.04. The business’s 50-day moving average is $11.50.
SunPower (NASDAQ:SPWR) last announced 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). The company had revenue of $481.90 million for the quarter, compared to analysts’ expectations of $444.23 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 12.95%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. On average, equities analysts expect that SunPower Co. will post -0.66 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC lifted its holdings in shares of SunPower by 55,714.3% during the 1st quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 3,900 shares during the period. Exane Derivatives lifted its holdings in shares of SunPower by 36.3% during the 1st quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 1,625 shares during the period. Trust Co. of Vermont increased its position in SunPower by 14.0% during the 1st 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 in the last quarter. Legal & General Group Plc increased its position in SunPower by 11.7% during the 4th 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 in the last quarter. Finally, National Asset Management Inc. acquired a new stake in SunPower during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 27.75% of the company’s stock.
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.
Read More: Balanced Fund
Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.