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 ...

Group 1 - A short squeeze has significantly impacted the residential solar industry, with notable stock price increases for companies like SunPower, which rose by 61.6%, Sunnova Energy International, which increased by 27.8%, and Sunrun, which gained 6.5% [1][2] - The recent surge in solar stocks is attributed to a short squeeze, where short-sellers are compelled to cover their positions, leading to further price increases [2] - Solar companies have been preparing for an improved operating environment in the second half of the year, with higher utility rates and adjustments to regulations positively influencing demand [3][4] Group 2 - Higher stock prices may enhance the financial prospects of solar companies, making it easier for them to raise capital through share offerings or convertible debt to finance solar projects [4] - The current market dynamics suggest that while the recent stock price increases may not justify valuations that are double previous levels, companies may have been oversold, indicating potential for further price movements [5] - The future trajectory of stock prices will depend on whether short-sellers have closed their positions or increased their short bets, which could either lead to a sharp decline or continued upward momentum in stock prices [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 ...

Core Viewpoint - The market anticipates a year-over-year decline in SunPower's earnings due to lower revenues, with the upcoming earnings report being crucial for assessing the company's stock price movement [1]. Financial Expectations - SunPower is expected to report a quarterly loss of $0.26 per share, reflecting a year-over-year change of -271.4% [2]. - Revenues are projected to be $318.7 million, down 27.7% from the same quarter last year [2]. Estimate Revisions - The consensus EPS estimate has been revised 0.83% higher in the last 30 days, indicating a slight reassessment by analysts [2]. - The Most Accurate Estimate for SunPower is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.92%, suggesting a bearish outlook from analysts [5]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with a focus on positive readings for predictive power [3][4]. - SunPower's current Zacks Rank is 3, which complicates the prediction of an earnings beat [5][6]. Historical Performance - In the last reported quarter, SunPower was expected to post a loss of $0.27 per share but actually reported a loss of $0.51, resulting in a surprise of -88.89% [7]. - The company has not beaten consensus EPS estimates in any of the last four quarters [7]. Conclusion - SunPower does not appear to be a compelling candidate for an earnings beat, and investors should consider other factors when making decisions regarding the stock ahead of the earnings release [8].

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 ...