Insider Selling: SunPower CEO Unloads 25,000 Shares of Stock (SPWR)
SunPower (NASDAQ:SPWR) CEO Thomas H. Werner sold 25,000 shares of SunPower stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $32.70, for a total transaction of $817,500.00. Following the completion of the sale, the chief executive officer now directly owns 309,638 shares of the company’s stock, valued at approximately $10,125,163. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SunPower (NASDAQ:SPWR) traded down 2.23% during mid-day trading on Tuesday, hitting $32.01. The stock had a trading volume of 1,607,194 shares. SunPower has a 52 week low of $17.52 and a 52 week high of $37.14. The stock has a 50-day moving average of $31.86 and a 200-day moving average of $31.66. The company has a market cap of $4.183 billion and a price-to-earnings ratio of 22.24.
SunPower (NASDAQ:SPWR) last released its earnings data on Thursday, April 24th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.17. The company had revenue of $683.70 million for the quarter, compared to the consensus estimate of $669.37 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. Analysts expect that SunPower will post $1.32 EPS for the current fiscal year.
A number of analysts have recently weighed in on SPWR shares. Analysts at Brean Capital reiterated a “buy” rating on shares of SunPower in a research note on Thursday, May 15th. They now have a $32.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $37.30.
SunPower Corporation operates in two business segments: the Utility and Power Plants (NASDAQ:SPWR) Segment and the Residential and Commercial (R&C) Segment.
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