SunPower Corporation (NASDAQ:SPWR):
SPWR INVESTOR ALERT: The Law Offices of Vincent Wong Notifies Investors of a Class Action Involving SunPower Corporation and a Lead Plaintiff Deadline of October 17, 2016.
In the market the company is trading up since yesterday’s close of $8.7.
Company shares last traded at $8.84 just below $9.69, the stock’s 50 day moving average and which is marginally under the 200 day moving average of $15.83. The 50 day moving average was down by -8.63% and the 200 day average went down by -44.09%.
In the latest earnings report the EPS was $-2.48 and is expected to be $0.35 for the current year with 138,150,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.48 with next year’s EPS anticipated to be $0.63.
Short traders are more bearish on the company recently if you evaluate the increase in short interest. The stock had a rise in short interest of 0.07% between August 31, 2016 and September 15, 2016. Short shares increased from 15,446,622 to 16,538,189 over that period. With short interest at 16,538,189 and short average daily volume at 3,799,022, the short-interest ratio is 4.4 and the percentage of shorted shares is 0.12% as of September 15.
Investment firms have provided guidance on SPWR of late. On September 8 analysts at JMP Securities starting coverage on the stock with an initial rating of “Market Underperform” and a price target of $6.00. On July 27 the stock rating was upgraded from “Neutral” to “Buy” in a statement from Guggenheim Securities.
On July 6 the company was upgraded to “Buy” from “” in a report from UBS. Equity analyst Wells Fargo started coverage giving it an initial rating of “Market Perform”.
On April 13, 2016 Guggenheim Securities issued its first research report on the stock with a rating of “Neutral”. Mizuho Securities began coverage of the stock by announcing an initial rating of “Neutral” and price target of $25.00.