Is SunPower stock in the middle of a brutal pullback?
Aug 04, 2021 · 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 were down still ...
What's happening with SunPower?
BofA analyst Julien Dumoulin-Smith upgraded SunPower Corp (NASDAQ: SPWR) to Neutral from Underperform with a price target of $23, up from $13 (3% …
Is SunPower owned by total?
Aug 05, 2021 · The stock continued its fall this month and was already down 7% by Aug. 4. SunPower stock fell 9% on Wednesday, after the company announced lackluster second-quarter results. So what.
What is SunPower financial and how does it work?
Jan 21, 2022 · January 21, 2022. 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 ...
Why is 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.Jan 21, 2022
Is SunPower stock a good buy?
Valuation metrics show that SunPower Corporation may be overvalued. Its Value Score of D indicates it would be a bad pick for value investors. The financial health and growth prospects of SPWR, demonstrate its potential to underperform the market.
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.Jan 3, 2022
Why is SunPower stock going up?
SunPower Stock Gets Upgraded Because It Has an 'Unobstructed Path' to Growth. Bank of America analysts are more constructive on the solar panel company, citing optimism over trends in the sector.5 days ago
Is SunPower stock overvalued?
After an almost 5x rise since its low in March, at the current price of $17 per share, we believe SunPower stock (NASDAQ: SPWR) is overvalued.Nov 5, 2020
Is SunPower undervalued?
According to my valuation model, SunPower seems to be fairly priced at around 15% below my intrinsic value, which means if you buy SunPower today, you'd be paying a reasonable price for it. And if you believe that the stock is really worth $19.72, then there's not much of an upside to gain from mispricing.Feb 28, 2022
What solar company does Tesla own?
SolarCityTesla acquired SolarCity in 2016, at a cost of approximately $2.6 billion and reorganized its solar business into Tesla Energy.
Is SunPower still in business?
The move comes after SunPower announced a restructuring in October aimed at doubling down on the residential solar market, which the company said is larger, more profitable, and growing faster. The company said it planned to offload its commercial and industrial business as part of that restructuring.Feb 10, 2022
Who bought SunPower?
TotalEnergies SEIn 2007, SunPower acquired PowerLight, doubling the size of the company. Total purchased a controlling interest in SunPower for $1.37 billion in 2011....SunPower.Trade nameSPWROperating incomeUS-$27.46 million (2021)OwnerTotalEnergies SE (>51%)Number of employees2,200 (January 3, 2021)Websiteus.sunpower.com11 more rows
3 Stocks That Will Soar as Solar Costs Continue to Drop
25 Coldest Countries in the World
The cost to build a solar power plant has fallen around 90% in the last decade, according to Our World in Data, and costs are only going lower from here. The U.S.
Here's Why I Think SunPower (NASDAQ:SPWR) Is An Interesting Stock
In this article, we discuss the 25 coldest countries in the world. You can skip our detailed analysis of the climate classification system, and go directly to the 5 Coldest Countries in the World. Countries that are located at or closer to either of the two poles experience colder climates than countries that are farther. […]
What You Need to Know About SunPower's Latest Results
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
Why SunPower Stock Fell in July and Continued Falling in August
SunPower (NASDAQ: SPWR) continues to transform its business in 2021, partly as a result of new technologies coming out and partly because it's no longer in the business of building solar panels after spinning off its panel manufacturing to Maxeon Solar Technologies.
Sunrun (RUN) to Report Q2 Earnings: What's in the Cards?
SunPower (NASDAQ: SPWR) stock fell 15.2% in July, according to data provided by S&P Global Market Intelligence. SunPower stock fell 9% on Wednesday, after the company announced lackluster second-quarter results. SunPower stock's fall in July is likely attributed to an underperform rating by Credit Suisse.
The stock fell harder than its peers last month
Sunrun's (RUN) Q2 results are expected to reflect a solid volume growth trend along with strong battery installation. Increased run rate cost synergies target is likely to have boosted its earnings.
What happened
Rekha Khandelwal, CFA, is a long-term investor with a special focus on energy stocks. Rekha holds a master's in finance and has worked as a financial consultant. When she isn't writing, she can be found traveling to a new city or country.
So what
SunPower ( NASDAQ:SPWR) stock fell 15.2% in July, according to data provided by S&P Global Market Intelligence. The stock continued its fall this month and was already down 7% by Aug. 4. SunPower stock fell 9% on Wednesday, after the company announced lackluster second-quarter results.
Now what
SunPower stock's fall in July is likely attributed to an underperform rating by Credit Suisse. On July 13, Credit Suisse analyst Maheep Mandloi assigned an underperform rating to SunPower stock. He also gave a price target of $22 for the stock. The next day, the stock fell 14.6%.
Operational Results
SunPower's second-quarter revenue of $309 million fell short of consensus estimates and was toward the lower end of the company's guided range of $295 million to $345 million for the quarter.
Financial Position
For the quarter under review, SunPower’s adjusted revenues came in at $341.8 million, lagging the Zacks Consensus Estimate of $356 million by 4%. Moreover, the top line declined 15.6% from $404.8 million in the year-ago quarter.
Guidance
SunPower had cash and cash equivalents of $232.8 million as of Jan 3, 2021, compared with $302 million as of Dec 29, 2019.
