Insider Selling: Eric Branderiz Sells 2,072 Shares of SunPower Stock (SPWR)
SunPower (NASDAQ:SPWR) SVP Eric Branderiz sold 2,072 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $36.85, for a total value of $76,353.20. The sale was disclosed in a filing with the SEC, which is available at this link.
SunPower (NASDAQ:SPWR) traded down 1.32% on Thursday, hitting $37.47. The stock had a trading volume of 1,323,947 shares. SunPower has a 52 week low of $21.00 and a 52 week high of $42.07. The stock’s 50-day moving average is $37.08 and its 200-day moving average is $34.17. The company has a market cap of $4.914 billion and a price-to-earnings ratio of 27.98.
SunPower (NASDAQ:SPWR) last released its earnings data on Thursday, July 31st. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $621.10 million for the quarter, compared to the consensus estimate of $623.54 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts expect that SunPower will post $1.30 EPS for the current fiscal year.
SPWR has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of SunPower in a research note on Tuesday, August 5th. They now have a $36.00 price target on the stock. Separately, analysts at Cowen and Company reiterated an “outperform” rating on shares of SunPower in a research note on Friday, August 1st. Finally, analysts at Brean Capital upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $41.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.20.
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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