Insider Selling: Thomas H. Werner Unloads 26,704 Shares of SunPower Stock (SPWR)
SunPower (NASDAQ:SPWR) CEO Thomas H. Werner unloaded 26,704 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $40.00, for a total value of $1,068,160.00. Following the sale, the chief executive officer now directly owns 257,934 shares of the company’s stock, valued at approximately $10,317,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.30.
SunPower (NASDAQ:SPWR) traded down 1.31% during mid-day trading on Thursday, hitting $39.83. 3,009,997 shares of the company’s stock traded hands. SunPower has a 52 week low of $17.52 and a 52 week high of $40.99. The stock’s 50-day moving average is $33.91 and its 200-day moving average is $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 issued its quarterly earnings data on Thursday, April 24th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.22 earnings per share. SunPower’s revenue was up 19.0% compared to the same quarter last year. Analysts expect that SunPower will post $1.28 EPS 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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