Insider Selling: Douglas J. Richards Sells 5,200 Shares of SunPower Stock (SPWR)
SunPower (NASDAQ:SPWR) EVP Douglas J. Richards sold 5,200 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $40.00, for a total value of $208,000.00. Following the completion of the sale, the executive vice president now directly owns 18,955 shares in the company, valued at approximately $758,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SunPower (NASDAQ:SPWR) traded down 1.31% on Thursday, hitting $39.83. 3,009,997 shares of the company’s stock traded hands. SunPower has a 1-year low of $17.52 and a 1-year high of $40.99. The stock has a 50-day moving average of $33.91 and a 200-day moving average of $32.08. The company has a market cap of $5.205 billion and a price-to-earnings ratio of 27.42.
SunPower (NASDAQ:SPWR) last announced its earnings results 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. On average, analysts predict that SunPower will post $1.28 earnings per share for the current fiscal year.
A number of research firms have recently commented on SPWR. Analysts at JPMorgan Chase & Co. downgraded shares of SunPower from an “overweight” rating to a “neutral” rating in a research note on Wednesday. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. Finally, analysts at Brean Capital reiterated a “buy” rating on shares of SunPower in a research note on Wednesday, May 7th. They now have a $32.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.