Home Market Analysis Up Almost 20% Last Month, Can SunPower Stock Sustain Its Winning Run?

Up Almost 20% Last Month, Can SunPower Stock Sustain Its Winning Run?

by WOOWinvest
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Up Almost 20% Last Month, Can SunPower Stock Sustain Its Winning Run?


Shares of SunPower Corporation (NASDAQ: SPWR) have risen nearly 20% over the past month (21 sessions), outperforming the S&P 500, which has fallen more than 3% over the same period. If you also look at the changes over the past ten days, the stock is up 6.4%, outperforming the broader market, which is down about 1% over the same period. SPWR’s most recent FY21 revenue increased to $1.32 billion from $1.12 billion in FY20. However, faster growth in operating expenses meant that operating losses widened from $6 million to $27 million during the period. Additionally, other income fell by $670 million and the number of outstanding shares increased, implying EPS of -$0.22 from continuing operations, well below the $3.11 in FY20. Still, the stock’s gains were largely driven by higher oil and natural gas prices, which are expected to boost demand for renewable energy.

Now, will SPWR stock continue to outperform, or can we expect a pullback? Based on our machine learning analysis of stock price trends over the past decade, we see an average probability of 53% for SPWR stock to rise in the next month (21 trading days). See our analysis of SPWR stock’s upside opportunities. For more details on the company’s historical returns and comparisons with peers, see SunPower Stock Returns. Also, see SunPower Revenue Comparison for details on SPWR’s revenue and comparison to peers.

21 days: SPWR 19% vs S&P500 -3.2%; outperform

(17% probability event; 53% probability of rising in the next 21 days)

SPWR stock has gained 19% in the past 21 trading days (one month), while the broader market (S&P 500) has lost -3.2% A change of 19% or more in 21 trading days is a 17% probability event, past 10 years Occurs 436 times out of 2515 Out of these 436 times, the stock goes up 229 times over the next 21 trading days This indicates a 53% chance that the stock will rise over the next 20 years Twenty-one trading days

Ten days: SPWR 6.4% vs S&P500 -0.9%; outperform

(30% probability event; 48% probability of rising in the next 10 days)

SPWR stock has gained 6.4% in the past ten trading days (two weeks), while the broader market (S&P 500) has lost 0.9% A change of 6.4% or more in ten trading days is a 30% probability event that has occurred 765 in the past 2516 times in 10 years Of these 765 times, the stock has risen 369 times in the next 10 trading days This indicates a 48% chance that the stock will rise in the next 10 trading days

Five days: SPWR -7.3% vs. 2.4% for S&P 500; underperforming market

(17% probability event; 55% probability of rising in the next five days)

SPWR stock fell 7.3% in the five-day trading period ending March 15, 2022, while the broader market (S&P 500) gained about 2.4% over the same period. A change of -7.3% or more in five trading days (one week) is a 17% probability event, occurring 435 of 2516 times in the past 10 years. Of these 435 events, the stock will move in the next five 239 trading days This indicates a 55% chance that the stock will rise in the next five trading days

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