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Should This Make Sunpower Corp (NASDAQ: SPWR) Investors Sleepless At Night?

Sunpower Corp (NASDAQ:SPWR) price closed higher on Monday, February 12, jumping 16.20% above its previous close.

A look at the daily price movement shows that the last close reads $3.58. The company’s 5Y monthly beta was ticking 1.58. Taking into account the 52-week price action we note that the stock hit a 52-week high of $18.15 and 52-week low of $2.74. The stock added 16.20% on its value in the past month.

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Sunpower Corp, which has a market valuation of $729.50 million, is expected to release its quarterly earnings report Feb 15, 2024. Analysts tracking SPWR have forecast the quarterly EPS to shrink by -0.24 per share this quarter, while the same analysts predict the annual EPS to hit -$0.58 for the year 2024 and up to -$0.32 for 2024. In this case, analysts estimate an annual EPS growth of -275.80% for the year and 44.80% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $362.85 million, with the likely lows of $269.56 million and highs of $523 million. The average estimate suggests sales growth for the quarter will likely fall by -26.30% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $1.69 billion for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -1.30% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give SPWR a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that SPWR’s price is at present 28.50% off the SMA20 and 2.07% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 58.79, with weekly volatility standing at 11.14%. The indicator jumps to 10.79% when calculated based on the past 30 days. Sunpower Corp (NASDAQ:SPWR)’s beta value is holding at 1.82, while the average true range (ATR) indicator is currently reading 0.40.

Turning out attention to how the Sunpower Corp stock has performed in comparison to its peers in the industry, here’s what we find: SPWR’s stock is 16.20% on the day and -73.25% in the past 12 months, while TotalEnergies SE ADR (TTE) traded 0.50%% in the last session and was positioned 1.00% up on its price 12 months ago. Turning out attention to how the Sunpower Corp stock has performed in comparison to its peers in the industry, here’s what we find: SPWR’s stock is 16.20% on the day and -73.25% in the past 12 months, while TotalEnergies SE ADR (TTE) traded 0.50%% in the last session and was positioned 1.00% up on its price 12 months ago. Also, Canadian Solar Inc. (CSIQ) showed up trend of 3.01%% while its price kept floating at -41.63% over the past year.

An analysis of the Sunpower Corp (NASDAQ:SPWR) stock in terms of its daily trading volume indicates that the 3-month average is 1.70. However, this figure increases on the past 10-day timeline to an average of 8.85 million.

Current records show that the company has 174.27M in outstanding shares. The insiders’ percentage holdings are 50.70% of outstanding shares while the percentage share held by institutions stands at 51.03%. The stats also highlight that short interest as of Jan 31, 2024, stood at 34.71 million shares, which puts the short ratio at the time at 4.49. From this we can glean that short interest is 19.79% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 26.76 million. But the -13.87% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.