SunPower stock's fall in July is likely attributed to an underperform rating by Credit Suisse. Shares of solar energy stock SunPower (NASDAQ: SPWR) fell as much as 11.8% in trading on Wednesday after reporting second-quarter 2021 financial results.
Full Answer
What happened to SunPower’s stock?
· California-based solar solution company SunPower (NASDAQ: SPWR) is in the midst of a brutal pullback. SPWR stock closed down nearly 17% today, hitting a 52-week low of $15.70 per share.
Why did SunPower split into two companies?
· What happened. Shares of solar energy stock SunPower ( SPWR -0.33% ) fell as much as 11.8% in trading on Wednesday after reporting second-quarter 2021 financial results. At 3:20 p.m. EDT, shares ...
Will SunPower’s newly structured profits lead to higher profits?
· SunPower stock was dropping by more than 11% on Thursday as Wall Street’s expectations for the solar-power installer have shifted. It’s gone from a company with strong potential whose stock rose...
Is SunPower owned by total?
What happened . Shares of SunPower (SPWR 0.17%) fell as much as 13.6% today as investors jumped ship before a public offering of the stock hits …
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· SunPower shares drop after Morgan Stanley downgrades solar company to 'underweight' Advertisement SunPower's recently acquired SolarWorld Hillsboro manufacturing plant is seen in Hillsboro Reuters...
Why SunPower dropping?
SunPower shares were falling sharply Friday after the solar tech company said it expects to record charges related to a cracking issue on some third-party equipment. SunPower also said fourth-quarter adjusted Ebitda would be at the low end of its previously issued guidance.
Is SunPower a good stock to buy?
SunPower has big plans for expansion in the US in 2022, following a Q4 2021 customer base of 427,000, a 42% increase in Q4. Residential gross margins are a healthy 20% and there is expected to be substantial growth of the digital business in 2022.
Is SunPower in financial trouble?
SunPower's revenue was up 41.9% to $308.9 million on the back of a recovery in residential solar sales. Over the last year, adjusted EBITDA rose from negative $4 million to positive $22 million in the second quarter of 2021. Net recourse debt dropped from $561 million a year ago to $283 million at the end of Q2 2021.
What is going on with SunPower?
SunPower Corporation (SunPower) has announced its plan to split into two separate companies. SunPower will continue to be a distributed generation energy services company while their new company, Maxeon Solar Technologies (Maxeon Solar), will focus on the manufacturing of solar panels.
Should I sell my SunPower stock?
The consensus among Wall Street analysts is that investors should "hold" SunPower stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SPWR, but not buy additional shares or sell existing shares. View analyst ratings for SunPower or view top-rated stocks.
Who is buying SunPower?
TotalEnergiesTotalEnergies is buying SunPower's commercial and industrial business, the two companies announced Wednesday evening. The $250 million deal includes $190 million cash up front, plus another $60 million to be paid if an extension to the solar investment tax credit is passed, a company spokesperson said.
Who is better sunrun or SunPower?
Verdict: SunPower has a slight advantage over Sunrun in terms of the overall quality of their solar panels. The company produces high-quality panels through Maxeon Solar while Sunrun has to rely on third-party suppliers.
Who owns Sun Run solar?
Foundation Capital owns almost 20% of Sunrun, Accel Partners owns 13.2%, Canyon Partners owns 9.1%, Sequoia owns 9%, and Madrone Partners owns 7.5%. Founders Jurich and Fenster own 3.8% and 3.4% respectively.
Are SunPower panels made in the USA?
Solaria is based in Fremont, California, and manufactures its solar panels both in the United States and in South Korea.
What solar panels does SunPower use?
SunPower uses its own solar panels that are manufactured through Maxeon, the company's manufacturing arm. SunPower currently offers four types of panels: A Series, X Series, E Series and P Series. These panels are designed to cater to different energy needs.
Where are Tesla solar panels made?
These products make use of the most sustainable energy source: the sun. In 2017, Tesla began production of solar cells and modules at Gigafactory 2 – a 1.2 million square-foot facility in Buffalo, New York.
How long do SunPower solar panels last?
40 yearsHow long will a solar system last? Our systems are designed to have a useful life of 40 years or more. * For more information about solar panel durability and performance, check out this report on solar system useful life field tests performed on SunPower® systems vs. conventional panels.
NASDAQ: SPWR
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What happened
Shares of solar energy stock SunPower ( SPWR -3.92% ) fell as much as 11.8% in trading on Wednesday after reporting second-quarter 2021 financial results. At 3:20 p.m. EDT, shares were down still 9.1% and don't look like they'll get much of a bounce today.
So what
SunPower's revenue was up 41.9% in the quarter to $308.9 million, and net income from continuing operations jumped from $55.9 million to $75.2 million, or $0.40 per share. That number includes an $84 million mark-to-market gain on equity investments, so if you pull that and other one-time items out, earnings were just $0.06 per share.
Now what
Results may have fallen below expectations, but there was a lot to like from SunPower last quarter. Gross margin jumped from 11.8% a year ago to 19.8%, including a 22.5% gross margin from residential sales.
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Investors aren't happy with a recently announced share offering
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
What happened
Shares of SunPower ( NASDAQ:SPWR) fell as much as 13.6% today as investors jumped ship before a public offering of the stock hits the market. Shares closed 13.1% lower on the day.
So what
Earlier this week, SunPower announced that it would be selling 22 million shares of stock with the potential for another 3.3 million if underwriters exercise their over-allotment option. The funds will be used for "general corporate purposes," but paying back convertible debt due in 2021 was called out as a use for the cash.
Now what
Today's move isn't driven by news from SunPower or the solar industry overall, so it looks to be a trading phenomenon that can happen before a share offering. For long-term investors, I wouldn't be too alarmed.
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SunPower Corporation (NASDAQ:SPWR) Just Reported Earnings, And Analysts Cut Their Target Price
Shareholders might have noticed that SunPower Corporation ( NASDAQ:SPWR ) filed its yearly result this time last week...
SunPower (SPWR) Q4 2021 Earnings Call Transcript
Image source: The Motley Fool. SunPower (NASDAQ: SPWR)Q4 2021 Earnings CallFeb 16, 2022, 4:30 p.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood day, and thank you for standing by.
SunPower (SPWR) Reports Q4 Loss, Tops Revenue Estimates
SunPower (SPWR) delivered earnings and revenue surprises of -275% and 1.35%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?
SunPower Stock Dips As Earnings Miss, Revenue Beats
The SunPower earnings report for the company's fourth-quarter topped revenue estimates but missed expectations on earnings.
SolarEdge Fourth-Quarter Earnings A Miss But Revenue Tops Estimates
SEDG stock fell Wednesday as the solar equipment provider reported fourth-quarter results late Tuesday that missed earnings but beat on revenue.
SunPower (SPWR) Set to Post Q4 Earnings: What's in Store?
SunPower's (SPWR) Q4 results are expected to reflect a favorable residential business growth trend. However, higher supply chain and labor costs might have hurt earnings
Does SunPower have higher profits?
Lower costs should lead to SunPower seeing higher profits. After seeing profits increase in the third quarter of 2019, SunPower’s stocks also increased, which suggests that if the newly structured SunPower has higher profits, it could increase the value of their stocks, as well.
Is SunPower a publicly traded company?
SunPower Corporation is a publicly traded company, meaning that its ownership is organized by stocks, which are owned by investors. Current shareholders will receive a 71% stake in Maxeon Solar when the company becomes public. SunPower’s stocks have fluctuated quite a bit in the past.
Is SunPower a separate company?
Updated October 22, 2020. SunPower Corporation (SunPower) has announced its plan to split into two separate companies. SunPower will continue to be a distributed generation energy services company while their new company, Maxeon Solar Technologies (Maxeon Solar), will focus on the manufacturing of solar panels. Why the sudden split?
Does Sunpower still make solar panels?
Once the companies divide, SunPower will no longer manufacture solar panels. However, it will still continue to supply the same solar services to customers.
Who is the CEO of SunPower?
CEO Tom Werner helping with a solar installation. Image source: PV Magazine. SunPower Corporation has a network comprised of over 500 dealers that it works with. In order to be part of the network, solar installers must complete specialized training courses and meet various installation criteria.
How many dealers does SunPower have?
SunPower Corporation has a network comprised of over 500 dealers that it works with. In order to be part of the network, solar installers must complete specialized training courses and meet various installation criteria.
Why didn't Sunpower take advantage of cheap overseas manufacturing?
SunPower likely didn't take advantage of cheap overseas manufacturing due to the tariffs imposed on imported solar modules by the Trump administration. Maxeon Solar realized that in order to be successful outside of the U.S., they must manufacture cheap solar panels, which is much more feasible when done internationally.