SunPower (NASDAQ:SPWR – Get Rating) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02, MarketWatch Earnings reports. The business had revenue of $350.28 million for the quarter, compared to analyst estimates of $317.56 million. SunPower had a negative net margin of 2.82% and a negative return on equity of 1.80%. The company’s revenue for the quarter was up 45.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share.
Shares of SPWR stock traded down $1.18 during trading hours on Friday, reaching $16.90. The stock had a trading volume of 4,061,870 shares, compared to its average volume of 2,928,291. The stock’s fifty day simple moving average is $19.87 and its 200 day simple moving average is $21.89. The company has a current ratio of 2.11, a quick ratio of 1.63 and a debt-to-equity ratio of 1.09. SunPower has a 12 month low of $14.00 and a 12 month high of $34.61. The firm has a market capitalization of $2.93 billion, a PE ratio of -112.66 and a beta of 2.05.
Hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in shares of SunPower in the fourth quarter valued at approximately $122,000. Advisors Asset Management Inc. purchased a new stake in SunPower in the fourth quarter valued at approximately $244,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in SunPower in the fourth quarter valued at approximately $327,000. Cetera Investment Advisers raised its stake in SunPower by 14.5% in the fourth quarter. Cetera Investment Advisers now owns 23,123 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 2,926 shares in the last quarter. Finally, Comerica Bank purchased a new stake in SunPower in the fourth quarter valued at approximately $629,000. Institutional investors own 36.61% of the company’s stock.
About SunPower (Get Rating)
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions to customers primarily in the United States and Canada. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar, storage, and home energy solutions and components through a combination of its third-party installing and non-installing dealer network and resellers, as well as in-house sales team; and turn-key engineering, procurement, and construction services and sale of energy under power purchase agreements.
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