SunPower Shares Down 1.3% on Insider Selling (SPWR)
Shares of SunPower (NASDAQ:SPWR) dropped 1.3% during mid-day trading on Thursday after an insider sold shares in the company, Analyst Ratings Network reports. The stock traded as low as $33.12 and last traded at $33.81, with a volume of 2,063,800 shares. The stock had previously closed at $34.25.
Specifically, CEO Thomas H. Werner sold 25,000 shares of the stock on the open market in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $31.94, for a total value of $798,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. SunPower has an average rating of “Buy” and an average target price of $37.30.
The stock has a 50-day moving average of $32.46 and a 200-day moving average of $31.6. The company has a market cap of $4.472 billion and a price-to-earnings ratio of 23.27.
SunPower (NASDAQ:SPWR) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. On average, analysts predict that SunPower will post $1.31 earnings per share for the current fiscal year.
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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