SunPower (SPWR) Looks Good: Stock Moves 8.2% Higher
SunPower Corporation SPWR was a big mover last session with its shares over 8% on the day. The upside was reportedly a result of the international climate change agreement that was recently signed in Paris, providing a boost to solar energy stocks. Alongside, the news of Trina Solar Limited TSL receiving a buyout offer of over $980 million positively impacted stocks in the solar industry, and SunPower was no exception. These developments led to far more shares changing hands yesterday than in a normal session. The move reverses the recent downtrend of the company as the stock has lost over 7% since Dec 1.
This manufacturer and provider of solar systems to residential, commercial, and utility-scale power plant customers worldwide has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate has also remained unchanged over the same period. Yesterday’s rally is encouraging though, so make sure to keep a close watch on this firm in the near future.
SunPower currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Is SPWR going up? Or down? Predict to see what others think: Up or Down
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