Why SunPower Corporation's Shares Popped 20% Today
Shares of SunPower Corporation (NASDAQ: SPWR) jumped as much as 20.1% on Thursday after the company reported third-quarter results. The company posted a surprise profit on a non-GAAP basis and is already building out its next manufacturing plant. Investors liked what they saw, and at 1:20 p.m. EDT shares were still up 14.2%.
Year-over-year comparisons in this case are meaningless because project sales make results very choppy. But revenue of $477.2 million, a non-GAAP gross margin of 12.8%, and non-GAAP earnings per share of $0.21 crushed consensus estimates. Analysts were expecting revenue of only $368.2 million and a loss of $0.39 per share.
Image source: SunPower.
Source: Fool.com
Sunpower Corp. Stock
€2.53
18.410%
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 6 € is above the current price of 2.53 € for Sunpower Corp., so the potential is actually 136.78%.
