Why Solar Energy Stocks Plunged This Week
There wasn't much good news for the solar industry this week, as earnings season brought bad report after bad report. Residential solar companies are suffering most because of policy changes in Europe and California, just as higher interest rates were making it harder to economically build solar projects.
The three most impacted companies this week were Sunrun (NASDAQ: RUN) which fell 27% for the week; SolarEdge Technologies (NASDAQ: SEDG), dropping 21.4%; and Sunnova Energy (NYSE: NOVA), which was off 32.7%, according to data provided by S&P Global Market Intelligence.
Last week, reported results, and management expected results to improve later in 2024, but the start of the year would be rough. On top of that, SunPower raised money at very diluted terms, which showed the tough financing environment for the industry.
Source Fool.com
Sunpower Corp. Stock
Currently there is a rather negative sentiment for Sunpower Corp. with 9 Buy predictions and 13 Sell predictions..
On the other hand, the target price of 7 € is above the current price of 2.03 € for Sunpower Corp., so the potential is actually 244.06%.
