SunPower Co. (SPWR) CFO Manavendra Sial Sells 8,177 Shares

SunPower Co. (NASDAQ:SPWR) CFO Manavendra Sial sold 8,177 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $8.06, for a total transaction of $65,906.62. Following the completion of the sale, the chief financial officer now directly owns 8,178 shares in the company, valued at approximately $65,914.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

SunPower stock traded up $0.41 during trading hours on Thursday, reaching $8.38. The stock had a trading volume of 1,939,434 shares, compared to its average volume of 1,767,180. The firm has a market cap of $1.15 billion, a PE ratio of -9.52 and a beta of 2.32. SunPower Co. has a 52 week low of $4.55 and a 52 week high of $9.60. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 39.39.

SunPower (NASDAQ:SPWR) last announced its earnings results on Thursday, May 9th. The semiconductor company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.05. The firm had revenue of $348.22 million for the quarter, compared to analyst estimates of $387.93 million. SunPower had a negative net margin of 46.65% and a negative return on equity of 2,775.24%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) EPS. As a group, sell-side analysts expect that SunPower Co. will post -0.89 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $6.00 price target on shares of SunPower and gave the stock a “sell” rating in a report on Wednesday, May 8th. BidaskClub raised shares of SunPower from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. ValuEngine lowered shares of SunPower from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Zacks Investment Research raised shares of SunPower from a “strong sell” rating to a “buy” rating and set a $8.25 price target on the stock in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. assumed coverage on shares of SunPower in a report on Thursday, April 11th. They issued a “neutral” rating and a $7.50 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.97.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC boosted its stake in shares of SunPower by 55,714.3% during the 1st quarter. Quantamental Technologies LLC now owns 3,907 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 3,900 shares in the last quarter. Exane Derivatives boosted its stake in shares of SunPower by 36.3% during the 1st quarter. Exane Derivatives now owns 6,107 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 1,625 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of SunPower by 14.0% during the 1st quarter. Trust Co. of Vermont now owns 11,365 shares of the semiconductor company’s stock valued at $74,000 after purchasing an additional 1,400 shares in the last quarter. ETF Managers Group LLC boosted its stake in shares of SunPower by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 16,339 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of SunPower by 11.7% during the 4th quarter. Legal & General Group Plc now owns 21,138 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 2,214 shares in the last quarter. 27.06% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “SunPower Co. (SPWR) CFO Manavendra Sial Sells 8,177 Shares” was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.com-unik.info/2019/05/16/sunpower-co-spwr-cfo-manavendra-sial-sells-8177-shares.html.

SunPower Company Profile

SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.

Featured Story: Growth Stocks, What They Are, What They Are Not

Receive News & Ratings for SunPower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunPower and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit