SunPower Corp. Target of Unusually Large Options Trading (SPWR)
Shares of SunPower Corp. (NASDAQ:SPWR) were the target of some unusual options trading activity on Thursday. Investors acquired 8,595 put options on the stock, Analyst Ratings Net reports. This is an increase of approximately 216% compared to the typical volume of 2,717 put options.
A number of analysts have recently weighed in on SPWR shares. Analysts at JPMorgan Chase & Co. initiated coverage on shares of SunPower Corp. in a research note on Thursday, January 16th. They set an “overweight” rating and a $31.87 price target on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of SunPower Corp. in a research note on Friday, January 10th. They now have a $39.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of SunPower Corp. from $25.00 to $30.00 in a research note on Tuesday, December 10th. They now have a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. SunPower Corp. currently has an average rating of “Buy” and an average price target of $26.70.
Shares of SunPower Corp. (NASDAQ:SPWR) traded up 4.97% during mid-day trading on Thursday, hitting $33.19. 7,195,298 shares of the company’s stock traded hands. SunPower Corp. has a 52-week low of $9.00 and a 52-week high of $36.25. The stock’s 50-day moving average is $31.67 and its 200-day moving average is $28.51. The company’s market cap is $4.029 billion.
SunPower Corp. (NASDAQ:SPWR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.19. The company had revenue of $758.00 million for the quarter, compared to the consensus estimate of $707.93 million. During the same quarter last year, the company posted $0.18 earnings per share. SunPower Corp.’s revenue was down 3.4% compared to the same quarter last year. Analysts expect that SunPower Corp. will post $1.18 EPS 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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