SunPower Corporation (NASDAQ:$SPWR) witnessed unusually large trading activity on their option stock during Friday trading. Traders saw a 377% increase of 5,055 call options, compared to the average daily volume of 1,060 call options daily.
SunPower Corporation is a global energy company that delivers solar solutions on multiple levels that include power plants, commercial, and residential customers.
The company opened Monday trading at $7.64 with a market cap of $1.07 billion. The company has a 50 and 200-day moving average of $9.09 and $8.18, respectively. They also have a 52 week low and high of $5.84 and $11.70.
A number of analysts have weighed in on the company recently;
- ValuEngine, on June 2nd, upgraded its rating from ‘Strong-Sell’ to ‘Sell’.
- Zacks Investment Research, on July 12th, dropped their rating from ‘Strong-Buy’ to ‘Hold’.
- BidaskClub, on July 25th, dropped its rating from ‘Buy’ to ‘Hold’.
- Oppenheimer Holdings, Inc., on August 2nd, reissued an ‘Outperform’ rating with a price target of $13.00. This is up from the previous target price of $10.00.
- Cowen and Company, on September 17th, reissued a ‘Buy’ rating with a $12.00 price target.
In total, 12 analysts issued ‘Hold’ ratings, 6 have issued ‘Buy’ ratings, and 1 ‘Sell’, giving the company a consensus of ‘Hold’ with an average price target of $9.48.
A number of investment firms have recently altered their holdings in the company:
- Raymond James Financial Services Advisors Inc. bought an additional 1,730 shares in the last quarter, for a total of 23,084 shares valued at $216,000. This represented an 8.1% increase.
- BlueCrest Capital Management Ltd bought 1,380 shares for a total of 39,563 valued at roughly $241,000, an increase of 3.6% over the last quarter.
- WFG Advisors LP bought 1,100 shares in the last quarter, increasing their holdings by 7.6% for a total of 15,550 shares at roughly $145,000.
- Teachers Advisors LLC bought 696 shares in the last quarter, giving them a total of 97,906 for a value of roughly $647,000. This constitutes an increase of 0.7%.
- CAPROCK Group Inc. bought 128 shares last quarter, giving them a total of 11,941 shares valued at $112,000, an increase of 1.1%.
Institutional ownership accounts for 28.82% of the company’s total stock.
On Tuesday, August 1st, SunPower issued its latest earnings report with a $0.39 EPS. This was $0.24 above the consensus estimate of $0.63. In the same quarter last year, the EPS was reported at $0.22. The revenue beat the $312.58 million forecast with a total revenue of $341.50 million for the quarter. This is a 15% drop on a year-over-year comparison. Current forecasts indicate a $1.06 EPS for the fiscal year.
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