SunPower (NASDAQ:SPWR) stock is falling hard on Wednesday as the company’s shares face strict criticism from Wolfe Research analyst Steve Fleishman.The Wolfe Research analyst warns that SPWR stock won’t be able to maintain its current price from the meme stock rally. This has him holding firm to his $2 price target for the company’s shares. For the record, SPWR is currently trading for about $3.16 per share but is down 28% as of Wednesday morning.Included in this coverage is a downgrade for SPWR stock. Flei ...

The party's over for SunPower shares after a short squeeze caused the stock to nearly double in two trading days this week.The bubble burst on shares of SunPower (SPWR -26.88%) today after the stock had been soaring this week. The provider of residential solar and energy storage services didn't announce anything new this week, but its stock rocketed higher by 91% in the first two trading days.That came from a wave of meme stock trading focused on heavily shorted stocks, including SunPower. As of the end of ...

SunPower Corporation (NASDAQ:SPWR) stock's short squeeze appears to finally be ending, amid the reignited meme stock craze. The shares are down 27.1% at $3.20 at last glance, after rising roughly 80% over the last two sessions. Today's drop comes after Wolfe Research downgraded the stock to "underperform" from "peer perform," with a price target of $2. The $3 level, a familiar line of pressure and support since the start of the year, appears to be capturing today's pullback. Since the start of 2024, the Su ...

A short squeeze has hit the residential solar industry.Solar energy stocks had an incredible day on Tuesday with SunPower (SPWR 59.64%) jumping as much as 105% in trading before closing up 61.6% on the day. Call it meme trading or a short squeeze, but shares were up huge on almost no news for the industry.SunPower wasn't the only solar stock moving today. Sunnova Energy International (NOVA 27.51%) was up as much as 32.8% and closed the day up 27.8%, while Sunrun (RUN 6.51%) rose 15.5% before closing up 6.5% ...

Troubled solar power company SunPower (NASDAQ:SPWR) is the latest name to join the meme rally. SPWR stock is soaring 130% in early trading as retail investors focus on the fact that 94% of its shares are being sold short, according to Fintel.SunPower Is Undergoing a Short SqueezeSunPower, which is one of the most shorted stocks in the market, appears to be in the early stages of a short squeeze. Such a phenomenon occurs when stocks rapidly climb, forcing many short sellers to buy back at high prices the sha ...

SunPower (NASDAQ:SPWR) layoffs have the have the solar technology and energy services company cutting 1,000 jobs to reduce operating costs.SunPower notes that these layoffs will result in charges of about $28 million. The cuts are expected to start in the next few days and could last for a few weeks. It’s worth mentioning that these are a large number of cuts considering the company’s total headcount is 4,710 full-time employees.Alongside these job cuts is SunPower announcing that it will close down certain ...

The market expects SunPower (SPWR) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, ...

The sun will come out tomorrow, but SunPower may not live to see it.SunPower (SPWR 1.51%) spooked investors back in February when it warned that, "as a result of the time and effort that was required to complete ... restatements" of certain financial reports, it wouldn't be filing its required SEC 10-K Form on time this year.Shares of the solar power company are trading down about 15% since that announcement, and on Friday, Susquehanna International's Biju Perincheril cut his price target by roughly twice t ...

Tony Garzolini rejoins the company in a newly created role as SunPower deepens focus on profitability and Dealer experience RICHMOND, Calif., March 14, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) a leading residential solar technology and energy services provider, today announced the appointment of residential solar and home energy veteran, Tony Garzolini, as Executive Vice President and Chief Revenue Officer (CRO). In this role, Tony will oversee sales, including the Direct, Dealer and New Homes cha ...

Whenever a company delays a regulatory filing, particularly one involving quarterly or annual financial updates, some investors fear the worst. After all, such filings are a normal and expected aspect of the life of publicly traded businesses.This explains the nearly 2% sell-off in SunPower (SPWR -1.89%) shares on Thursday. The solar energy company admitted in a brief regulatory filing that it'll be late in filing its latest set of fundamentals.Annual report filing delayedAnyone hoping to learn in-depth how ...