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 ...

RICHMOND, Calif., Feb. 29, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that it filed a Form 12b-25 with the Securities and Exchange Commission to provide notice of the delayed filing of its Annual Report on Form 10-K ("Form 10-K") for the fiscal year ended December 31, 2023. SunPower requires additional time to complete its financial statements included in the Company's Form 10-K. This ...

Board establishes Office of the Chairman to lead business operations as Peter Faricy departs  Board is conducting a comprehensive CEO search  RICHMOND, Calif., Feb. 27, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR), (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that Chief Executive Officer (CEO) Peter Faricy has departed the Company, effective February 26, 2024. The Board is conducting a comprehensive search process to identify a per ...

Even though the market seems to have a less-than-sunny view of solar stocks just now, one analyst recently upped his price target on sector mainstay SunPower (SPWR 0.63%). SunPower has an upside potential of more than 30% at the targeted price. Let's take a quick look at the state of the company and its industry to gauge whether the analyst's view is realistic.UBS bumps its SunPower price target higherIn mid-February UBS analyst Jon Windham added $0.25 per share to his fair value assessment of SunPower, for ...

Builds on the recent capital raise to provide SunPower with access to more than half a billion dollars in financing RICHMOND, Calif., Feb. 23, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that it has secured over $300 million in project financing commitments from funds managed by Apollo (NYSE: APO) (the "Apollo Funds"), ATLAS SP Partners, ("ATLAS SP") and Hannon Armstrong Sustainable Inf ...