SunPower Stock (NASDAQ:SPWR), Trade Ideas

SunPower

SunPower is a leading solar technology and energy services provider that offers fully integrated solar, storage, and home energy solutions to customers primarily in the United States and Canada through an array of hardware, software, and financing options and smart energy solutions. The company's sales channels include a network of both installing and noninstalling dealers and resellers that operate in residential and commercial markets as well as a group of in-house sales teams in each segment engaged in direct sales to end customers.

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Shares of  Ultragenyx Pharmaceutical Inc.  (NASDAQ: RARE) fell sharply during Monday’s session after the company revealed new data from the Phase 1/2 study of GTX-102 for Angelman syndrome, a genetic disorder causing developmental disabilities and nerve-related symptoms.

Why Ultragenyx Pharmaceutical Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

sun-3275314_1280

On Thursday, SunPower announced fourth-quarter losses of 51 cents per share which missed the analyst consensus estimate of losses of 24 cents by 112.5%. The company reported quarterly sales of $361.3 million, missing the analyst consensus estimate of $362.85 million and respresting a 27.35% decrease over sales of $497.31 million from the same period last year.

Why SunPower Stock Is Down Today

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Shares of  DoorDash, Inc. (NASDAQ: DASH) fell sharply in today’s session as the company reported mixed financial results for its fourth quarter.

Why DoorDash Shares Are Trading Lower By Around 12%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

SunPower Corp

<a href="https://www.bloomberg.com/news/articles/2024-04-24/us-solar-manufacturers-seek-additional-tariffs-on-panel-imports-from-asia" title="https://www.bloomberg.com/news/articles/2024-04-24/us-solar-manufacturers-seek-additional-tariffs-on-panel-imports-from-asia">https://www.bloomberg.com/news/articles/2024-04-24/us-solar-manufacturers-seek-additional-tariffs-on-panel-imports-from-asia</a>
&nbsp;
Solar manufacturers are asking the US government to slap duties on $12.5 billion of imported equipment from Southeast Asia, setting the stage for a sweeping trade probe that threatens to make power projects more expensive.
&nbsp;
In petitions filed Wednesday, seven panel makers and polysilicon producers seek trade help to counteract what they say are unfair practices by overseas rivals. Their requests raise the prospect of tariffs as high as 271.5% later this year.

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'US Solar Makers Seek Additional Tariffs On Panel Imports From Asia; Panel Makers Say Help Needed To Bolster US Competitiveness; New Tariffs Risk Slowing Solar Panel Installations In The US' - Bloomberg

SunPower Adopts Restructuring Plan; Expects To Incur Restructuring Charges Totaling ~$28M

General

SunPower shares are trading lower after the company's audit committee concluded that financial statements from 2022 and 2023 are unreliable and will be restated. Additionally, Evercore ISI Group downgraded the stock from Outperform to In-Line.

<a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/867773/000086777324000047/spwr-20240417.htm" title="https://www.sec.gov/ix?doc=/Archives/edgar/data/867773/000086777324000047/spwr-20240417.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/867773/000086777324000047/spwr-20240417.htm</a>

SunPower's Audit Committee Concluded That Audited And Unaudited Financial Statements From 2022 And Q1-Q3 2023, Reported To SEC On December 18, 2023, In Various Forms, Are Unreliable And Will Be Restated; Not Fully Completed Its Review, And Expected Financial Impact Of Errors Prelim. And Subject To Change; Cannot Provide Assurance That Other Errors Will Not Be Identified

Evercore ISI Group analyst Sean Morgan downgrades SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) from Outperform to In-Line and maintains the price target from $6 to $6.

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Evercore ISI Group Downgrades SunPower to In-Line, Maintains Price Target to $6

Mizuho analyst Maheep Mandloi maintains SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) with a Neutral and lowers the price target from $5 to $4.

Mizuho Maintains Neutral on SunPower, Lowers Price Target to $4

The Biden administration is expected to grant a request by South Korea&rsquo;s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans said on Wednesday.
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The request, which has not previously been reported, comes as Qcells is seeking to protect a pledged $2.5 billion expansion of its U.S. solar manufacturing presence against competition from cheaper Asian-made products.
&nbsp;
The solar division of Korean conglomerate Hanwha Corp <a dir="ltr" href="https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=000880.KS" tabindex="-1">000880.KS</a> outlined the request in a formal petition to the U.S. Trade Representative on Feb. 23. It included letters of support from seven other companies with billions of dollars combined invested in U.S. solar factories.
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No decision has been made on the timeline of the expected reversal, the sources said.
&nbsp;
Duties on imports of bifacial panels, the main technology in utility-scale solar projects, would be a boon to the more than 40 solar equipment factories planned since U.S. President Joe Biden signed his landmark climate change law, the Inflation Reduction Act, in 2022.
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Those plants are critical to Biden&#39;s plan to fight climate change, revitalize American manufacturing and create millions of union jobs.
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Past trade remedies have sharply divided the U.S. solar industry, which is dominated by installers and developers who rely on cheap imports to keep their project costs low.
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The top U.S. solar trade group, the Solar Energy Industries Association, lobbied for the bifacial exemption. SEIA was not immediately available for comment.
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Biden administration officials, including <a dir="ltr" href="reuters://REALTIME/verb=NewsStory/ric=nL2N3GI2GW" tabindex="-1">Treasury Secretary Janet Yellen</a> and <a dir="ltr" href="reuters://REALTIME/verb=NewsStory/ric=nL2N3GO37W" tabindex="-1">U.S. Trade Representative Katherine Tai</a>, in recent weeks have said the U.S. is evaluating trade remedies to deal with threats posed by China&#39;s massive investment in factory capacity for clean energy goods.
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Qcells, which has two factories in Georgia, is the largest U.S. producer of silicon-based solar products.
&nbsp;
In its petition, a copy of which was seen by Reuters, the company asked Biden to revoke an exemption of so-called bifacial panels from duties first imposed by Republican former President Donald Trump in 2018 and extended by Biden, a Democrat, in 2022.
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The tariffs on imported modules started at 30% and currently stand at 14.25%. They are due to expire in 2026.

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'President Biden Expected To Remove Tariff Exemption For Bifacial Solar Panel Imports; No Timeline Set For Removal Of U.S. Bifacial Solar Panel Tariff Exemption' - Reuters News

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Industrials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$155.00</td>
<td>$44.0K</td>
<td>3.0K</td>
<td>1.1K</td>
</tr>
<tr>
<td>BLDR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$180.00</td>
<td>$49.9K</td>
<td>223</td>
<td>162</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$200.00</td>
<td>$32.9K</td>
<td>1.2K</td>
<td>159</td>
</tr>
<tr>
<td>ZIM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$10.00</td>
<td>$79.1K</td>
<td>4.3K</td>
<td>152</td>
</tr>
<tr>
<td>NXT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$55.00</td>
<td>$117.4K</td>
<td>1.1K</td>
<td>116</td>
</tr>
<tr>
<td>PH</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$550.00</td>
<td>$36.4K</td>
<td>65</td>
<td>60</td>
</tr>
<tr>
<td>GD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$280.00</td>
<td>$33.2K</td>
<td>61</td>
<td>28</td>
</tr>
<tr>
<td>EMR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$110.00</td>
<td>$26.0K</td>
<td>4.0K</td>
<td>24</td>
</tr>
<tr>
<td>SPWR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$40.00</td>
<td>$37.7K</td>
<td>1</td>
<td>10</td>
</tr>
<tr>
<td>URI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$500.00</td>
<td>$80.0K</td>
<td>0</td>
<td>5</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For GE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), we notice a call option sweep that happens to be bullish, expiring in 3 day(s) on April 19, 2024. This event was a transfer of 200 contract(s) at a $155.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $44.0K, with a price of $220.0 per contract. There were 3064 open contracts at this strike prior to today, and today 1107 contract(s) were bought and sold. 
• Regarding BLDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>), we observe a put option sweep with bearish sentiment. It expires in 31 day(s) on May 17, 2024. Parties traded 51 contract(s) at a $180.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $49.9K, with a price of $960.0 per contract. There were 223 open contracts at this strike prior to today, and today 162 contract(s) were bought and sold. 
• Regarding BA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), we observe a call option trade with bearish sentiment. It expires in 122 day(s) on August 16, 2024. Parties traded 70 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $32.9K, with a price of $470.0 per contract. There were 1276 open contracts at this strike prior to today, and today 159 contract(s) were bought and sold. 
• Regarding ZIM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>), we observe a put option sweep with bullish sentiment. It expires in 31 day(s) on May 17, 2024. Parties traded 878 contract(s) at a $10.00 strike. This particular put needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $79.1K, with a price of $90.0 per contract. There were 4301 open contracts at this strike prior to today, and today 152 contract(s) were bought and sold. 
• Regarding NXT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>), we observe a put option sweep with bearish sentiment. It expires in 31 day(s) on May 17, 2024. Parties traded 100 contract(s) at a $55.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $117.4K, with a price of $1177.0 per contract. There were 1127 open contracts at this strike prior to today, and today 116 contract(s) were bought and sold. 
• For PH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PH#NYSE">PH</a>), we notice a put option trade that happens to be bearish, expiring in 31 day(s) on May 17, 2024. This event was a transfer of 16 contract(s) at a $550.00 strike. The total cost received by the writing party (or parties) was $36.4K, with a price of $2280.0 per contract. There were 65 open contracts at this strike prior to today, and today 60 contract(s) were bought and sold. 
• For GD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), we notice a put option sweep that happens to be bearish, expiring in 122 day(s) on August 16, 2024. This event was a transfer of 32 contract(s) at a $280.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $33.2K, with a price of $1040.0 per contract. There were 61 open contracts at this strike prior to today, and today 28 contract(s) were bought and sold. 
• For EMR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>), we notice a call option trade that happens to be bullish, expiring in 66 day(s) on June 21, 2024. This event was a transfer of 50 contract(s) at a $110.00 strike. The total cost received by the writing party (or parties) was $26.0K, with a price of $520.0 per contract. There were 4071 open contracts at this strike prior to today, and today 24 contract(s) were bought and sold. 
• For SPWR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>), we notice a put option trade that happens to be bearish, expiring in 276 day(s) on January 17, 2025. This event was a transfer of 10 contract(s) at a $40.00 strike. The total cost received by the writing party (or parties) was $37.7K, with a price of $3770.0 per contract. There were 1 open contracts at this strike prior to today, and today 10 contract(s) were bought and sold. 
• For URI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>), we notice a call option trade that happens to be bearish, expiring in 24 day(s) on May 10, 2024. This event was a transfer of 5 contract(s) at a $500.00 strike. The total cost received by the writing party (or parties) was $80.0K, with a price of $16000.0 per contract. There were 0 open contracts at this strike prior to today, and today 5 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

BLDR

10 Industrials Stocks With Whale Alerts In Today's Session

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rare#NASDAQ">RARE</a>) fell sharply during Monday&rsquo;s session after the company revealed new data from the Phase 1/2 study of GTX-102 for Angelman syndrome, a genetic disorder causing developmental disabilities and nerve-related symptoms.
Ultragenyx Pharmaceutical shares dipped 9.4% to $42.46 on Monday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Soligenix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sngx#NASDAQ">SNGX</a>) shares surged 71.5% to $0.6679 after the company announced that it was granted orphan drug designation to the active ingredient in MarVax for the prevention and post-exposure prophylaxis against MARV infection by the FDA.</li>
<li>Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) surged 54% to $2.6350 following insider buys from multiple company executives.</li>
<li>SuperCom Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spcb#NASDAQ">SPCB</a>) shares gained 39.4% to $0.3849 after jumping around 18% on Friday.</li>
<li>Piedmont Lithium Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pll#NYSE">PLL</a>) shares gained 32.1% to $16.75 following a 5% decline on Friday.</li>
<li>Snap One Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snpo#NASDAQ">SNPO</a>) surged 31.6% to $10.71 after the company announced that it will be acquired by Resideo Technologies.</li>
<li>Organovo Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onvo#NASDAQ">ONVO</a>) shares surged 30.9% to $1.32 after the company announced Phase 2 results for FXR314. Study results demonstrated statistically significant reduction in liver fat content from baseline in patients receiving FXR314 compared to placebo.</li>
<li>Kuke Music Holding Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kuke#NASDAQ">KUKE</a>) jumped 27% to $2.7650.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) gained 24% to $1.61 after gaining over 11% on Friday.</li>
<li>Edgio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egio#NASDAQ">EGIO</a>) gained 24% to $22.18.</li>
<li>Kaival Brands Innovations Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kavl#NASDAQ">KAVL</a>) surged 23.6% to $3.30.</li>
<li>Envoy Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coch#NASDAQ">COCH</a>) gained 22.6% to $6.19.</li>
<li>Medical Properties Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpw#NYSE">MPW</a>) rose 19.9% to $4.7850 after the company announced that it sold its majority interest in Utah Hospitals.</li>
<li>CareMax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmax#NASDAQ">CMAX</a>) climbed 19.5% to $3.78.</li>
<li>SES AI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ses#NYSE">SES</a>) surged 18.7% to $1.77.</li>
<li>Mobile-health Network Solutions (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndr#NASDAQ">MNDR</a>) gained 17.7% to $17.67.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adil#NASDAQ">ADIL</a>) rose 16.7% to $2.72.</li>
<li>ProKidney Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prok#NASDAQ">PROK</a>) gained 16.7% to $2.0426.</li>
<li>Biotricity, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btcy#NASDAQ">BTCY</a>) rose 16.5% to $1.34.</li>
<li>Yatsen Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ysg#NYSE">YSG</a>) gained 13.3% to $3.41.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) shares gained 12.8% to $32.71 after dipping 42% on Friday.</li>
<li>Encore Wire Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wire#NASDAQ">WIRE</a>) surged 11.7% to $291.60 after the company entered an agreement to be acquired by Prysmian for $290 per share in cash.</li>
<li>Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) gained 9.5% to $18.05.</li>
<li>Extreme Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/extr#NASDAQ">EXTR</a>) gained 5.7% to $11.31. B. Riley Securities analyst Dave Kang upgraded Extreme Networks from Neutral to Buy and maintained a $14 price target.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Marinus Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrns#NASDAQ">MRNS</a>) shares dipped 77% to $1.6800 after the company provided an update on the Phase 3 RAISE trial and reported preliminary Q1 financial results.</li>
<li>Swvl Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swvl#NASDAQ">SWVL</a>) fell 35% to $8.58.</li>
<li>VIA optronics AG (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/viao#NASDAQ">VIAO</a>) dipped 34% to $0.2765.</li>
<li>Veru Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/veru#NASDAQ">VERU</a>) fell 24% to $1.1550. Oppenheimer analyst Leland Gershell reiterated Veru with an Outperform and lowered the price target from $7 to $5.</li>
<li>Rent the Runway, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rent#NASDAQ">RENT</a>) dipped 19.8% to $15.42.</li>
<li>NextPlat Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpl#NASDAQ">NXPL</a>) fell 19.8% to $1.50 after jumping 24% on Friday. The company entered into a definitive business combination agreement with its majority-owned subsidiary Progressive Care Inc.</li>
<li>Cyngn Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyn#NASDAQ">CYN</a>) shares fell 19.1% to $0.1170 after declining around 7% on Friday.</li>
<li>ProMIS Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pmn#NASDAQ">PMN</a>) fell 15.6% to $1.95.</li>
<li>Biohaven Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bhvn#NASDAQ">BHVN</a>) dipped 15.4% to $44.90. Biohaven showcased innovative neuroscience portfolio with 20 presentations at the 2024 AAN Annual Meeting.</li>
<li>Neumora Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmra#NASDAQ">NMRA</a>) shares declined 15.1% to $11.48 after the FDA placed a clinical hold on the company&#39;s Phase 1 NMRA-266 study.</li>
<li>Alterity Therapeutics Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/athe#NASDAQ">ATHE</a>) dipped 15% to $2.49.</li>
<li>Surf Air Mobility Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srfm#NASDAQ">SRFM</a>) fell 15% to $0.53.</li>
<li>IM Cannabis Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imcc#NASDAQ">IMCC</a>) fell 14.2% to $0.5399.</li>
<li>Polestar Automotive Holding Uk Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psny#NASDAQ">PSNY</a>) fell 12.7% to $1.2699. On Friday, Cantor Fitzgerald analyst Andres Sheppard reiterated Polestar Automotive with an Overweight and maintained a $5 price target.</li>
<li>Desktop Metal, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dm#NYSE">DM</a>) fell 10.8% to $0.8510.</li>
<li>Local Bounti Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/locl#NYSE">LOCL</a>) declined 10.2% to $2.1550.</li>
<li>Q32 Bio Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qttb#NASDAQ">QTTB</a>) fell 10% to $26.00.</li>
<li>SunPower Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwr#NASDAQ">SPWR</a>) fell 8.3% to $2.2750.</li>
<li>Informatica Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/infa#NASDAQ">INFA</a>) dipped 8.1% to $35.36 amid increased volatility following reports suggesting Salesforce is in talks to buy the company.</li>
<li>TRACON Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) declined 8.1% to $2.1699 after falling around 9% on Friday.</li>
<li>NOVONIX Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvx#NYSE">NVX</a>) declined 7.2% to $2.63.</li>
<li>AudioEye, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aeye#NASDAQ">AEYE</a>) fell 6.6% to $12.86 after declining around 7% on Friday.</li>
<li>OncoCyte Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocx#NASDAQ">OCX</a>) fell 6.6% to $2.5301. Oncocyte announced a transplant assay partnership agreement with Bio-Rad laboratories.</li>
<li>BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) fell 6.1% to $2.8650.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38249138/dow-jumps-over-300-points-goldman-sachs-posts-upbeat-earnings"> Dow Jumps Over 300 Points; Goldman Sachs Posts Upbeat Earnings</a>

Why Ultragenyx Pharmaceutical Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Susquehanna analyst Biju Perincheril maintains SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) with a Neutral and lowers the price target from $4.5 to $3.

Susquehanna Maintains Neutral on SunPower, Lowers Price Target to $3

Citigroup analyst Vikram Bagri maintains SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) with a Sell and lowers the price target from $3 to $2.5.

Citigroup Maintains Sell on SunPower, Lowers Price Target to $2.5

WIIM

ENPH

Shares of solar stocks are trading higher following a report indicating two solar companies are working on American-made panels that could enable US solar project developers to be eligible for a federal subsidy.

Solar Stocks On Watch Following Earlier Report Suniva Will Supply Cells To Heliene Under Three-Year $400M Deal; Deal Would Allow US Solar Project Developers To Collect On Federal Subsidy For American-Made Equipment

<h3>Gainers</h3>
<ul>
<li>NuScale Power (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) shares rose 26.0% to $5.24 during Wednesday's regular session. The company's market cap stands at $418.4 million. </li>
<li>Pixie Dust Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXDT#NASDAQ">PXDT</a>) shares increased by 16.78% to $3.2. The market value of their outstanding shares is at $47.5 million. </li>
<li>SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) shares increased by 15.66% to $2.88. The market value of their outstanding shares is at $505.3 million. </li>
<li>Sunrun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) stock rose 14.8% to $12.95. The market value of their outstanding shares is at $2.8 billion. </li>
<li>Stem (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) stock increased by 14.24% to $2.12. The company's market cap stands at $335.2 million. </li>
<li>ESGL Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESGL#NASDAQ">ESGL</a>) shares increased by 12.58% to $0.48. The company's market cap stands at $6.0 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Velo3D (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLD#NYSE">VLD</a>) stock decreased by 41.7% to $0.34 during Wednesday's regular session. The market value of their outstanding shares is at $87.2 million. As per the news, the Q4 earnings report came out yesterday. </li>
<li>C3is (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISS#NASDAQ">CISS</a>) shares decreased by 13.1% to $0.04. The market value of their outstanding shares is at $6.5 million. As per the press release, Q4 earnings came out yesterday. </li>
<li>Professional Diversity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPDN#NASDAQ">IPDN</a>) stock declined by 12.91% to $1.89. The company's market cap stands at $21.1 million. </li>
<li>Earlyworks Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELWS#NASDAQ">ELWS</a>) stock fell 12.11% to $0.73. The company's market cap stands at $10.9 million. </li>
<li>Knightscope (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSCP#NASDAQ">KSCP</a>) stock decreased by 11.97% to $0.53. The company's market cap stands at $50.8 million. </li>
<li>Bowman Consulting Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWMN#NASDAQ">BWMN</a>) stock fell 11.35% to $35.0. The market value of their outstanding shares is at $536.8 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BWMN

CISS

ELWS

ESGL

IPDN

KSCP

PXDT

STEM

12 Industrials Stocks Moving In Wednesday's Intraday Session

SunPower Receives Notification Of Deficiency From Nasdaq Related To Delayed Filing Of Annual Report On Form 10-K

In the last three months, 13 analysts have published ratings on SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>), offering a diverse range of perspectives from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $4.06, a high estimate of $6.00, and a low estimate of $1.00. This current average has decreased by 17.14% from the previous average price target of $4.90. 
<img src="https://www.benzinga.com/files/images/story/2024/1710172809_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive SunPower. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$2.50</td>
<td>$3.00</td>
</tr>
<tr>
<td>Sean Morgan</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$6.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Jon Windham</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$4.25</td>
<td>$4.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$4.50</td>
<td>$4.00</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Announces</td>
<td>Sell</td>
<td>$1.00</td>
<td>-</td>
</tr>
<tr>
<td>Maheep Mandloi</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$5.00</td>
<td>$6.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$3.50</td>
<td>$5.00</td>
</tr>
<tr>
<td>Brian Lee</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Sell</td>
<td>$2.50</td>
<td>$4.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Announces</td>
<td>Neutral</td>
<td>$4.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$4.00</td>
<td>$6.00</td>
</tr>
<tr>
<td>Maheep Mandloi</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$6.00</td>
<td>$5.00</td>
</tr>
<tr>
<td>Brian Lee</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Sell</td>
<td>$4.00</td>
<td>$5.00</td>
</tr>
<tr>
<td>Dushyant Ailani</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Hold</td>
<td>$5.50</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to SunPower. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of SunPower compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of SunPower's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into SunPower's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SPWR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on SunPower analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into SunPower's Background</h2>
SunPower is a leading solar technology and energy services provider that offers fully integrated solar, storage, and home energy solutions to customers primarily in the United States and Canada through an array of hardware, software, and financing options and smart energy solutions. The company's sales channels include a network of both installing and noninstalling dealers and resellers that operate in residential and commercial markets as well as a group of in-house sales teams in each segment engaged in direct sales to end customers.
<h3>SunPower's Economic Impact: An Analysis</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Challenges: SunPower's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -17.13%. This indicates a decrease in top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -34.71%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): SunPower's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -34.02%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): SunPower's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -8.87%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: SunPower's debt-to-equity ratio surpasses industry norms, standing at 1.24. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On SunPower Through 13 Analysts

Piper Sandler analyst Kashy Harrison maintains SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) with a Neutral and lowers the price target from $3 to $2.5.

Piper Sandler Maintains Neutral on SunPower, Lowers Price Target to $2.5

SunPower requires additional time to complete its financial statements included in the Company's Form 10-K. This is due the time and effort that was required to complete restatements of the Company's prior period financial statements, which were filed with the SEC on December 18, 2023. &nbsp;

SunPower Announces 10-K Filing Delay

SunPower shares are trading lower after the company's CEO departed.

Management

SunPower Announces  CEO Peter Faricy Has Departed Co., Board Is Conducting Search For Successor

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Last week, I recommended &ldquo;<a href="https://investorplace.com/2024/04/5-stocks-to-buy-as-interest-rates-begin-to-fall/">5 Stocks to Buy as Interest Rates Begin to Fall</a>.&rdquo; Declining borrowing costs looked set to turn these loss-making firms profitable again &ndash; a historically bullish sign for stocks. The five companies also had strong underlying businesses; their lack of profitability was from financing issues, not operational ones.



An unexpectedly hot March inflation report this past week now pushes their turnarounds back several months. Shares of one pick &ndash; Opendoor Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/open-stock-quote/">OPEN</a>) &ndash; fell as much as 15% on the prospect of rates staying higher for longer. Fortunately, this only delays these companies&rsquo; recovery because their underlying businesses remain strong. Monopolistic firms like Sabre (NASDAQ:<a href="https://investorplace.com/stock-quotes/sabr-stock-quote/">SABR</a>) and Royal Caribbean (NYSE:<a href="https://investorplace.com/stock-quotes/rcl-stock-quote/">RCL</a>) will have no trouble shouldering another several quarters of high-than-average interest payments.



However, not every indebted firm is so lucky. Many high-debt firms are unprofitable enterprises that borrowed money to stay afloat. And their cases, even a two-month delay of interest rate cutting could be enough to push them over the edge.



That&rsquo;s why our writers at InvestorPlace.com &ndash; our free news and analysis website &ndash; took a good, hard look at a handful of former high-flying firms this week that are now struggling under their financial weight. It&rsquo;s a warning that Louis Navellier&rsquo;s special guest <a href="https://secure.thefreeportsociety.com/?cid=MKT798548&amp;eid=MKT800240&amp;step=start&amp;plcid=PLC206514&amp;SNAID=%%SNAID%%&amp;email=%%emailaddr%%&amp;encryptedSnaid=%%ENCRYPTEDSNAID%%&amp;emailjobid=%%jobid%%&amp;emailname=%%emailname_%%">echoes in their latest presentation</a>.



Indeed, if the Fed delays its rate-cutting schedule further as Louis&rsquo;s special guest expects, be sure to sell these five companies as soon as you can&hellip; or avoid them if you haven&rsquo;t bought their shares yet&hellip;



<h2>5 Stocks to Sell Immediately: Fisker (FSRN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/fsrn1600-300x169.png" alt="Fisker Automotive (FSRN) is an American Luxury vehicle company. Fisker stock"><div>Source: photosince / Shutterstock.com</div></div>Eddie Pan examines what went wrong at Fisker (OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsrn-stock-quote/">FSRN</a>). <a href="https://investorplace.com/2024/04/henrik-fiskers-second-company-is-at-risk-of-imploding/">In a detailed report at InvestorPlace.com</a>, he finds that Henrik Fisker&rsquo;s second company &ndash; Fisker Automotive, which declared bankruptcy in 2013, was the first &ndash; is now at risk of imploding:




First, it&rsquo;s hard to miss the extremely competitive EV landscape that has witnessed a multitude of headwinds during the past few years, including supply chain issues, price wars, and a higher cost of borrowing. Making matters worse, Fisker was dealing with its own internal issues at the same time.



In its preliminary fourth quarter earnings, the company announced a 15% workforce reduction, a delayed Form 10-K, and an impending going concern warning following the submission of its 10-K. Fisker produced 10,193 Oceans in 2023 and delivered only 4,929 of them, signaling a clear demand problem.




Essentially, Fisker is building cars that too few buyers want. Clownishly negative reviews of Fisker Ocean have recently gone viral on social media, leading to <a href="https://investorplace.com/2024/04/fisker-stock-alert-customers-cancel-orders-for-40000-ocean-suvs">widespread order cancellations of Fisker&rsquo;s flagship vehicle</a>. The company has now cut MSRP prices on its Ocean Extreme from $61,499 to $37,499.



That&rsquo;s probably too little, too late. Fisker&rsquo;s most recent balance sheet showed just $326 million of cash left on hand, or less than four months of liquidity. And high borrowing costs means it must turn to increasingly onerous financing deals to keep itself alive, such as a $150 million convertible note issuance in March. Its 2026 bonds now trade at 1.5 cents on the dollar.



Though Fisker began with a solid concept of bringing affordable e-SUVs to American buyers, its financing and operational issues mean our writers believe it&rsquo;s time to sell whatever you might have left.



<h2>2. Lucid Motors (LCID)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/lcid1600-2-300x169.png" alt="Lucid Air Touring sedan display at the Service Center. Lucid Motors (LCID) is a manufacturer of luxury EV Electric Vehicles."><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Our writers have also turned bearish on Lucid Motors (NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/">LCID</a>), once considered the most likely company to beat Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) at its own game. A beautiful car design and deep backing by the Saudi sovereign wealth fund meant that the car firm had a long runway to reach scale.



However, the wealth fund has since found Lucid Motors to be a bottomless money pit. The company has lost $6.7 billion since 2021, and won&rsquo;t become profitable until at least 2026, if it ever does at all. Its most recent debt funding round valued shares at just $3.60.



Dwindling financing options could hardly come at a worse time, as Terel Miles <a href="https://investorplace.com/2024/04/why-its-time-for-investors-to-dump-lucid-stock-for-good/">bluntly puts it at InvestorPlace.com</a>:




Lucid&rsquo;s hunger for capital is no secret at this point. The company has been burning through cash at an alarming rate to fund its expansion plans.



It has gotten to a point where it&rsquo;s not if but when the company will raise more capital and dilute shareholders. Their access to capital and number of high-profile investors has been the company&rsquo;s kryptonite.




That&rsquo;s made Lucid&rsquo;s debtholders increasingly wary. Lucid&rsquo;s 2026 convertible debt now trades at 51 cents on the dollar, down from par as recently as 2022. That essentially blocks the EV startup from issuing any more debt, because no reasonable investor would buy debt at face value.



Lucid also suffers from its unusual exposure to a Residual Value Guarantee program, which promises to reimburse its vehicle lessors for losses in resale value. High car loan rates and EV oversupply has pushed companies like Tesla to slash prices, driving down the values of used vehicles. Though these contracts only contributed to $28.7 million of Lucid&rsquo;s 2023 losses, their existence means further declines in EV values not only hurts new sales. Losses will extend to old sales as well.



<h2>3. Hertz (HTZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/htz1600-300x169.jpg" alt="Hertz (HTZ) sign in Montevrain, France on May 8, 2016."><div>Source: aureliefrance / Shutterstock.com</div></div>Three years ago, I wrote why Hertz Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/htz-stock-quote/">HTZ</a>) could <a href="https://investorplace.com/2021/05/why-hertz-stock-could-become-the-top-penny-stock/">become the top penny stock of 2021</a>. The company&rsquo;s large asset base (in the form of its rental fleet) and exposure to the Covid-19 pandemic bizarrely meant that the longer the company spent in bankruptcy court, the better the chance of its ultimate survival.



The results were fantastic. By the end of the year, the pandemic had begun to recede, driving up used-car prices and sending Hertz&rsquo;s stock up tenfold.



However, poor financial decisions have since turned me and other InvestorPlace.com writers bearish about the company&rsquo;s underlying asset value. In January, the car rental firm announced it was taking a $245 million hit to its earnings from a poorly placed bet on EVs. Its CEO would be forced out by March. Hertz also failed to use its post-bankruptcy windfall to pay down its debts. Its total liabilities today are over twice as high as when I first covered the stock.



Here&rsquo;s what Louis Navellier and his team <a href="https://investorplace.com/market360/2024/04/7-f-rated-stocks-to-sell-in-april-2/">now say about this once-promising turnaround</a>.




Following the Covid-19 lockdowns that crippled the auto rental industry, Hertz bet big on EVs, hoping that the fleet would be appealing to customers. But when Tesla cut prices on its cars across the board and other EV makers followed suit, Hertz was left with a high-priced fleet with a much weaker resale value.



Now that CEO Stephen Scherr stepped down, investors may be tempted to give Hertz another chance to get it right. But I don&rsquo;t recommend it. HTZ stock is down 26% in 2024 and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.




Debt markets are equally wary. Moody&rsquo;s now assigns Hertz a B3 rating on its senior note, which historically suggests a 26% chance of default over the next 10 years. Buyer beware. A strong brand name means little when debts are piled this high.



<h2>4. Spirit (SAVE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/save1600-2-300x169.png" alt="Spirit Airlines (SAVE) is the leading Ultra Low Cost Carrier in the United States. Spirit Aircrafts at Fort Lauderdale-Hollywood International Airport"><div>Source: YES Market Media / Shutterstock.com</div></div>When the U.S. Justice Department blocked a merger between Spirit Airlines (NYSE:<a href="https://investorplace.com/stock-quotes/save-stock-quote/">SAVE</a>) and JetBlue (NASDAQ:<a href="https://investorplace.com/stock-quotes/jblu-stock-quote/">JBLU</a>) in March, InvestorPlace.com writer Eddie Pan warned that it could cause Spirit to <a href="https://investorplace.com/2024/03/save-stock-plunges-as-jetblue-terminates-deal-is-it-over-for-spirit-airlines/">file for bankruptcy and liquidate assets</a>. Spirit is a historically unprofitable airline, and it&rsquo;s increasingly unlikely that it can turn a profit as a standalone company.



Rising financing costs now threaten to end Spirit&rsquo;s run within a year. Prices of its 2025 convertible debt have fallen from par at the start of the year to trading at roughly 45 cents on the dollar. S&amp;P Global has now downgraded Spirit&rsquo;s credit rating to &ldquo;CCC+,&rdquo; giving a 3-year default probability in the 20%-30% range.



Ian Bezek goes a step further at InvestorPlace.com, calling the struggling airline a <a href="https://investorplace.com/2024/04/zombie-stock-apocalypse-7-walking-dead-companies-to-avoid/">&ldquo;walking dead company to avoid:&rdquo;</a>




Unfortunately for Spirit, it finds itself in a weak position as an independent airline. The airline has been losing money, and it currently has significant capacity constraints due to engine defects that grounded a chunk of its fleet. In addition, the surging oil price will cause Spirit problems with jet fuel costs going forward.




Essentially, the company is running out of any financing options. Spirit already spends $130 million in interest payments annually, and its roughly $300 million in expected annual losses will increase this figure by $45 million annually through 2026, according to Wall Street analysts. Though its $4.40 shares look &ldquo;cheap&rdquo; on certain valuation metrics, Spirit&rsquo;s onerous financing costs means the stock will unlikely survive for much longer.



<h2>5. SunPower (SPWR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/spwr-stock-1-300x169.jpg" alt="a phone with the sunpower logo in front of a U.S. flag"><div>Source: IgorGolovniov / Shutterstock.com</div></div>Finally, solar financing stocks will likely underperform as long as rates stay high. These companies rely on cheap borrowing rates to offset the large upfront installation costs, and elevated interest rates make large projects less attractive. Residential customers are particularly sensitive to these changes, since the viable alternative (of using grid energy) already exists.



The most notable of these residential solar suppliers set to fail is SunPower (NASDAQ:<a href="https://investorplace.com/stock-quotes/spwr-stock-quote/">SPWR</a>), a company Jeremy Flint <a href="https://investorplace.com/2024/04/3-stocks-with-the-highest-short-interest-headed-into-april/">recently called a sell at InvestorPlace.com</a>:




The residential rooftop solar sector is notoriously difficult to penetrate, with tons of high-quality companies competing for an increasingly shrinking pool of interested homeowners. At the same time, high upfront and financing costs are cutting into sales across the industry. Both factors are pushing SunPower&rsquo;s stock down and, staking claim to less than 1.5% of the total existing market, SunPower has a long way to catch up to top competitors




That&rsquo;s because SunPower was already weak to start. In 2022, the firm earned just $58 million net income on $1.7 billion of sales. The firm would lose $160 million the following year, and management believes it will lose another $120 million this year. Tesla&rsquo;s energy generation and storage segment generates gross profits a third higher.



Other solar firms have also struggled. Louis <a href="https://investorplace.com/acceleratedprofits/2023/11/03/20231103-alert/">cut his remaining stake</a> in Enphase Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/enph-stock-quote/">ENPH</a>) last November to book a 54% total gain (subscription to Accelerated Profits required). A resurgence in cheap Chinese imports is also harming Western panel makers.



But according to my analysis, SunPower&rsquo;s precarious start makes it the most likely solar company to fold within the next three years. Flint is right: In this new rate environment, it&rsquo;s better to bet on the top competitors than the stragglers.



<h2>The Cost of Debt Keeps Going Up</h2>



The average S&amp;P 500 firm has now seen its cost of debt rise 9.3% since the start of 2024, according to estimates from Thomson Reuters. Though the U.S. Federal Reserve hasn&rsquo;t raised its benchmark rate since last August, all firms must eventually roll low-rate borrowings into higher-rate ones as loans mature.



That can have disastrous effects, especially on highly leveraged firms. Spirit Airlines, for instance, has $1.1 billion in bonds due next year. It will either need to find a willing suitor or sell enough of itself to make up the difference. Shareholders will face significant dilution.



Even healthy firms can see their share prices fall, as high-flying firms like Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) have recently shown.



That&rsquo;s why Louis has teamed up with a special guest for the <a href="https://secure.thefreeportsociety.com/?cid=MKT798548&amp;eid=MKT800240&amp;step=start&amp;plcid=PLC206514&amp;SNAID=%%SNAID%%&amp;email=%%emailaddr%%&amp;encryptedSnaid=%%ENCRYPTEDSNAID%%&amp;emailjobid=%%jobid%%&amp;emailname=%%emailname_%%">Election Shock Summit</a>. During that event, they show us what to do before we learn, on May 1, that there may be no rate cuts any time soon. This is going to usher volatility back into the market of the sort we haven&rsquo;t seen in years.



Plus, they&rsquo;ll show you how to access a new system that lets you get ahead of big &ldquo;unpredictable&rdquo; political, economic, and financial moves before they happen.



<a href="https://secure.thefreeportsociety.com/?cid=MKT798548&amp;eid=MKT800240&amp;step=start&amp;plcid=PLC206514&amp;SNAID=%%SNAID%%&amp;email=%%emailaddr%%&amp;encryptedSnaid=%%ENCRYPTEDSNAID%%&amp;emailjobid=%%jobid%%&amp;emailname=%%emailname_%%">Go here to watch the replay</a>.



On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, Thomas Yeung held a long position in SABR. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Tom Yeung is a market analyst and portfolio manager of the Omnia Portfolio, the highest-tier subscription at InvestorPlace. He is the former editor of Tom Yeung&rsquo;s Profit &amp; Protection, a free e-letter about investing to profit in good times and protecting gains during the bad.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/5-stocks-to-sell-immediately/">5 Stocks to Sell Immediately</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Sunrun: Industry Risks And Current Difficulties Make It A Sell

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
BranchOut Food (NASDAQ:<a href="https://investorplace.com/stock-quotes/bof-stock-quote/">BOF</a>) stock is taking off on Wednesday after the company announced its third contract with a major retailer in the U.S.



According to the company, this deal comes with a <a href="https://finance.yahoo.com/news/branchout-food-announces-third-contract-120000747.html">commitment of $300,000</a>. That&rsquo;s enough to push BranchOut Food&rsquo;s annualized revenue above $8 million. It will also see the company&rsquo;s frozen fruits come to more than 1,400 stores by September 2024.



BranchOut Food doesn&rsquo;t name the retailer that it has signed these three contracts with. However, the company does claim that its partner is the nation&rsquo;s largest retailer. It also notes this includes contracts with the nation&rsquo;s largest club warehouse retailer. Both of these provide investors with hints about which company this is.



BranchOut Food CEO Eric Healy said the following about the contract.




&ldquo;We are excited to announce BranchOut Food has signed its third contract with the nation&rsquo;s largest retailer, highlighting our growing relationship. BranchOut&rsquo;s private label offering is a key segment of our business and we are very pleased to be adding contracts with leading retailers across the country, adding long term value for stakeholders.&rdquo;




<h2>BOF Stock Movement Today</h2>



News of the contract brings with it extra attention to BOF stock. That has more than 84 million shares changing hands. This is a massive increase compared to BranchOut Food&rsquo;s daily average trading volume of only about 72,000 shares.



BOF stock is up 84.2% as of Wednesday afternoon.



Investors looking for all of the latest stock market stories are in luck!



We have all of the hottest stock market happenings on Wednesday! Among that is what&rsquo;s going on with SunPower&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/spwr-stock-quote/">SPWR</a>) and Fisker&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsrn-stock-quote/">FSRN</a>) layoffs as well as other news. You can catch up on all of these matters by checking out the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/04/sunpower-layoffs-2024-what-to-know-about-the-latest-spwr-job-cuts/">SunPower Layoffs 2024: What to Know About the Latest SPWR Job Cuts</a></li>



<li><a href="https://investorplace.com/2024/04/fisker-stock-alert-fisker-braces-for-more-layoffs/">Fisker Stock Alert: Fisker Braces for More Layoffs</a></li>



<li><a href="https://investorplace.com/2024/04/hbar-crypto-drama-how-a-blackrock-report-sent-hedera-token-on-a-wild-ride/">HBAR Crypto Drama: How a BlackRock Report Sent Hedera Token on a Wild Ride</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-branchout-food-bof-stock-up-84-today/">Why Is BranchOut Food (BOF) Stock Up 84% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is BranchOut Food (BOF) Stock Up 84% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
SunPower (NASDAQ:<a href="https://investorplace.com/stock-quotes/spwr-stock-quote/">SPWR</a>) layoffs have the have the solar technology and energy services company <a href="https://finance.yahoo.com/news/solar-firm-sunpower-reduce-workforce-132354186.html">cutting 1,000 jobs</a> 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&rsquo;s worth mentioning that these are a large number of cuts considering the company&rsquo;s total headcount is 4,710 full-time employees.



Alongside these job cuts is SunPower announcing that it will close down certain divisions. The layoffs will see the company shutter its SunPower Residential Installation facilities and its SunPower Direct sales unit.



SunPower points out that these job cuts come as demand for solar panels is dwindling. It says it will switch to a low fixed-cost model to give it better resilience against market fluctuations, Reuters notes.



<h2>SunPower Layoffs Continue Trend</h2>



SunPower joins a growing list of companies that have been cutting jobs ever since the end of the Covid-19 lockdowns. That&rsquo;s resulted in many businesses reducing headcounts as they&rsquo;ve seen demand decrease post-pandemic.



All of that comes after inflation took off after the lockdowns. That&rsquo;s also resulted in increased interest rates from the Federal Reserve to combat inflation. These two factors continue to weigh on the economy, consumers and businesses.



SPWR stock is down 2.3% as of Wednesday morning.



There are still more stock market stories that traders will want to read about today!



Fortunately, we have all of that news collected in one place for investors! Our coverage of the stock market on Wednesday includes what&rsquo;s going on with Fisker&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/fsrn-stock-quote/">FSRN</a>), Vertiv&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/vrt-stock-quote/">VRT</a>) and Lucid Motors&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/">LCID</a>) shares. All of that info is available below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/04/fisker-stock-alert-fisker-braces-for-more-layoffs/">Fisker Stock Alert: Fisker Braces for More Layoffs</a></li>



<li><a href="https://investorplace.com/2024/04/vrt-stock-pops-vertiv-is-the-next-big-ai-winner/">VRT Stock Pops. Vertiv Is the Next Big AI Winner.</a></li>



<li><a href="https://investorplace.com/2024/04/lcid-stock-alert-why-lucid-motors-just-hit-a-new-52-week-low/">LCID Stock Alert: Why Lucid Motors Just Hit a New 52-Week Low</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/sunpower-layoffs-2024-what-to-know-about-the-latest-spwr-job-cuts/">SunPower Layoffs 2024: What to Know About the Latest SPWR Job Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

SunPower Layoffs 2024: What to Know About the Latest SPWR Job Cuts

FSRN

JBLU

LCID

NVDA

OPEN

SABR

SAVE

TSLA

Earnings

Commodities

Press Releases

SunPower Reports Fourth Quarter and Full Year 2023 Results

Tom Werner Joins SunPower's Board of Directors as Executive Chairman

Legal

Investigation Alert Microvast, SunPower, Telephone Data Systems, and Spirit AeroSystems: Johnson Fistel, LLP Encourages Long-Term Investors to Submit Their Information Below

SunPower Secures More Than $300M in Project Financing Commitments for Industry-Leading Residential Solar and Storage Lease Programs

SunPower Announces CEO Transition

SunPower Announces Delay in Filing Form 10-K

SunPower Appoints Chief Revenue Officer

SunPower Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Annual Report on Form 10-K

SUNPOWER INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of SunPower Corporation - SPWR

SUNPOWER INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of SunPower Corporation - SPWR