SunPower Co. (SPWR) Sees Significant Growth in Short Interest
SunPower Co. (NASDAQ:SPWR) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 17,104,549 shares, an increase of 19.7% from the January 12th total of 14,295,174 shares. Based on an average trading volume of 3,837,430 shares, the short-interest ratio is currently 4.5 days. Approximately 28.7% of the company’s shares are short sold.
In related news, Director Catherine A. Lesjak sold 23,632 shares of SunPower stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $7.50, for a total value of $177,240.00. Following the completion of the transaction, the director now owns 55,924 shares in the company, valued at $419,430. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.92% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SPWR. Schwab Charles Investment Management Inc. raised its stake in SunPower by 134.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 237,071 shares of the semiconductor company’s stock worth $2,215,000 after buying an additional 135,809 shares in the last quarter. Legal & General Group Plc raised its stake in SunPower by 422.8% in the second quarter. Legal & General Group Plc now owns 18,245 shares of the semiconductor company’s stock worth $171,000 after buying an additional 14,755 shares in the last quarter. Alliancebernstein L.P. raised its stake in SunPower by 13.6% in the second quarter. Alliancebernstein L.P. now owns 46,900 shares of the semiconductor company’s stock worth $438,000 after buying an additional 5,610 shares in the last quarter. Teachers Advisors LLC raised its stake in SunPower by 73.7% in the second quarter. Teachers Advisors LLC now owns 147,712 shares of the semiconductor company’s stock worth $1,380,000 after buying an additional 62,684 shares in the last quarter. Finally, Nationwide Fund Advisors bought a new position in SunPower in the second quarter worth approximately $317,000. Hedge funds and other institutional investors own 26.10% of the company’s stock.
Shares of SunPower (NASDAQ:SPWR) traded up $0.06 during midday trading on Friday, hitting $6.85. The company had a trading volume of 4,427,487 shares, compared to its average volume of 3,365,339. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $921.90, a price-to-earnings ratio of -1.70 and a beta of 2.73. SunPower has a 12-month low of $5.84 and a 12-month high of $11.70.
SunPower (NASDAQ:SPWR) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.60. The firm had revenue of $477.20 million during the quarter, compared to analyst estimates of $383.76 million. SunPower had a negative return on equity of 20.81% and a negative net margin of 24.91%. SunPower’s quarterly revenue was down 34.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. equities research analysts anticipate that SunPower will post -0.77 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/sunpower-co-spwr-sees-significant-growth-in-short-interest/1855832.html.
SunPower Corporation is a global energy company. The Company delivers complete solar solutions to residential, commercial, and power plant customers. The Company’s segments include Residential Segment, Commercial Segment and Power Plant Segment. The Residential and Commercial Segments combined are referred to as Distributed Generation.
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.