SunPower Corp. Sees Unusually Large Options Volume (SPWR)
Shares of SunPower Corp. (NASDAQ:SPWR) saw unusually large options trading activity on Monday. Stock traders acquired 11,654 call options on the company, Analyst RN reports. This is an increase of 185% compared to the average daily volume of 4,091 call options.
A number of analysts have recently weighed in on SPWR shares. Analysts at Zacks upgraded shares of SunPower Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, September 19th. They now have a $30.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of SunPower Corp. in a research note to investors on Thursday, August 1st. Finally, analysts at Northland Securities raised their price target on shares of SunPower Corp. from $33.00 to $38.00 in a research note to investors on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. SunPower Corp. currently has a consensus rating of “Hold” and a consensus price target of $20.58.
Shares of SunPower Corp. (NASDAQ:SPWR) traded up 4.66% on Monday, hitting $30.35. 6,311,983 shares of the company’s stock traded hands. SunPower Corp. has a one year low of $3.90 and a one year high of $29.48. The stock’s 50-day moving average is $24.71 and its 200-day moving average is $20.30. The company’s market cap is $3.680 billion.
SunPower Corp. (NASDAQ:SPWR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.48 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.37. The company had revenue of $576.50 million for the quarter, compared to the consensus estimate of $576.99 million. During the same quarter last year, the company posted $0.08 earnings per share. SunPower Corp.’s revenue was down 3.3% compared to the same quarter last year. On average, analysts predict that SunPower Corp. will post $1.22 earnings per share for the current fiscal year.
SunPower Corporation is a vertically integrated solar products and services company that designs, manufactures and delivers solar electric systems worldwide for residential, commercial, and utility-scale power plant customers.
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