A correction may be in store for SunPower Corporation (NASDAQ:SPWR) shares?

In the latest session, SunPower Corporation (NASDAQ: SPWR) closed at $16.22 down -1.16% from its previous closing price of $16.41. In other words, the price has decreased by -$0.19 from its previous closing price. On the day, 3499087 shares were traded. SPWR stock price reached its highest trading level at $16.64 during the session, while it also had its lowest trading level at $15.81.

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Ratios:

For a deeper understanding of SunPower Corporation’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.30. In the meantime, Its Debt-to-Equity ratio is 0.91 whereas as Long-Term Debt/Eq ratio is at 0.14.

Upgrades & Downgrades

On November 15, 2022, Deutsche Bank started tracking the stock assigning a Hold rating and target price of $16.Deutsche Bank initiated its Hold rating on November 15, 2022, with a $16 target price.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Nov 14 when Heang Vichheka sold 3,500 shares for $22.01 per share. The transaction valued at 77,042 led to the insider holds 3,181 shares of the business.

Sial Manavendra sold 25,000 shares of SPWR for $665,668 on Aug 15. The EVP and CFO now owns 50,810 shares after completing the transaction at $26.63 per share. On Aug 10, another insider, Richards Douglas J., who serves as the EVP, Administration of the company, sold 23,912 shares for $25.90 each. As a result, the insider received 619,378 and left with 23,909 shares of the company.

Valuation Measures:

As of this moment, SunPower’s Price-to-Earnings (P/E) ratio for their current fiscal year is 27.77, and their Forward P/E ratio for the next fiscal year is 29.33. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.61. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.76 while its Price-to-Book (P/B) ratio in mrq is 5.07.

Stock Price History:

Over the past 52 weeks, SPWR has reached a high of $28.42, while it has fallen to a 52-week low of $12.78. The 50-Day Moving Average of the stock is 20.68, while the 200-Day Moving Average is calculated to be 20.12.

Shares Statistics:

For the past three months, SPWR has traded an average of 3.69M shares per day and 4.1M over the past ten days. A total of 174.12M shares are outstanding, with a floating share count of 172.86M. Insiders hold about 0.30% of the company’s shares, while institutions hold 89.70% stake in the company. Shares short for SPWR as of Oct 13, 2022 were 12.15M with a Short Ratio of 14.42M, compared to 15.75M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 6.98% and a Short% of Float of 14.99%.

Earnings Estimates

There are 15 different market analysts currently analyzing its stock. On average, analysts expect EPS of $0.08 for the current quarter, with a high estimate of $0.25 and a low estimate of $0.03, while EPS last year was $0.06. The consensus estimate for the next quarter is $0.14, with high estimates of $0.3 and low estimates of $0.06.

Analysts are recommending an EPS of between $0.45 and $0.14 for the fiscal current year, implying an average EPS of $0.25. EPS for the following year is $0.56, with 17 analysts recommending between $1.19 and -$0.19.

Revenue Estimates

A total of 20 analysts have provided revenue estimates for SPWR’s current fiscal year. The highest revenue estimate was $1.82B, while the lowest revenue estimate was $1.49B, resulting in an average revenue estimate of $1.66B. In the same quarter a year ago, actual revenue was $1.32B, up 25.50% from the average estimate. Based on 20 analysts’ estimates, the company’s revenue will be $1.92B in the next fiscal year. The high estimate is $2.34B and the low estimate is $1.64B. The average revenue growth estimate for next year is up 15.60% from the average revenue estimate for this year.