#4 - SunPower (NASDAQ:SPWR)
SunPower Corporation (NASDAQ:SPWR) stock is up 33% in 2022. SunPower provides solar, storage, and home energy solutions through a network of third-party dealers and resellers in addition to its in-house team.
The company makes this list due to a recently announced collaboration with IKEA. The goal of the partnership is to make solar power accessible to consumers. The partnership will be test marketed in select California markets this fall. But if successful, this could be a significant catalyst for SPWR stock which is already up 26% in 2022.
With that said, SPWR stock is currently trading above its consensus estimate. The consensus rating for the stock is a Hold. However, the company is showing strong revenue growth which is increasing both on a sequential and a year-over-year basis. And, in its last earnings report, SunPower reported a strong backlog of orders for its products and makes it likely that its future growth objectives are achievable.
About SunPower
SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.
Read More - Current Price
- $0.12
- Consensus Rating
- Strong Sell
- Ratings Breakdown
- 0 Buy Ratings, 6 Hold Ratings, 7 Sell Ratings.
- Consensus Price Target
- $2.88 (2,248.7% Upside)
