SunPower Co. (NASDAQ:SPWR) CEO Sells $1,211,400.00 in Stock

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SunPower Co. (NASDAQ:SPWR) CEO Thomas H. Werner sold 90,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $13.46, for a total value of $1,211,400.00. Following the transaction, the chief executive officer now 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 SEC, which is accessible through the SEC website.

SPWR opened at $14.75 on Thursday. SunPower Co. has a one year low of $4.55 and a one year high of $16.04. The stock has a fifty day moving average price of $11.50. The company has a market cap of $2.02 billion, a P/E ratio of -16.76 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) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.12). The firm had revenue of $481.90 million during the quarter, compared to the consensus estimate of $444.23 million. SunPower had a negative return on equity of 83.67% and a negative net margin of 12.95%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, equities research analysts predict that SunPower Co. will post -0.66 earnings per share for the current year.

A number of analysts have recently commented on the company. Zacks Investment Research raised SunPower from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday. ValuEngine raised SunPower from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. assumed coverage on SunPower in a research note on Thursday, April 11th. They issued a “neutral” rating and a $7.50 price objective on the stock. Credit Suisse Group raised SunPower from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 1st. Finally, BidaskClub raised SunPower from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. SunPower currently has a consensus rating of “Hold” and an average price target of $8.48.

Several institutional investors have recently made changes to their positions in SPWR. Norges Bank acquired a new stake in shares of SunPower during the fourth quarter worth $5,873,000. IndexIQ Advisors LLC acquired a new stake in shares of SunPower during the first quarter worth $1,596,000. Comerica Bank acquired a new stake in shares of SunPower during the second quarter worth $879,000. Aperio Group LLC raised its position in shares of SunPower by 92.4% during the second quarter. Aperio Group LLC now owns 164,083 shares of the semiconductor company’s stock worth $1,754,000 after purchasing an additional 78,799 shares during the period. Finally, OZ Management LP acquired a new stake in shares of SunPower during the first quarter worth $382,000. 27.75% of the stock is currently owned by institutional investors.

SunPower Company Profile

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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Insider Buying and Selling by Quarter for SunPower (NASDAQ:SPWR)

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