US solar giant's stock price collapses, analysts warn the company is on the brink of delisting and bankruptcy
白云追月素
发表于 2024-7-20 11:28:15
184
0
0
On Friday morning (July 19th), US solar manufacturer SunPower (stock code: SPWR) fell nearly 50%, and has accumulated a decline of over 70% this week. It is now reporting a historic low of $0.76 per share and has reached the warning threshold of the "one dollar delisting system".
Since 2021, the stock price of this solar energy giant has been continuously declining, and the downward trend accelerated in 2023. Last year, the stock price fell by 73.21%, and this year it has fallen by more than 80% on this basis.
On the news front, US investment bank Roth MKM stated that a letter it obtained showed that SunPower told distributors on July 17 that the solar company no longer supports new leasing and power purchase agreement sales, nor does it support the installation of new projects and has stopped shipping.
SunPower also stated that the company is no longer able to provide installation services for transported and delivered goods. "SunPower is aware of the 'seriousness' of this decision and is seeking alternative suppliers to transfer the sold projects. Analysts generally believe that the company is on the brink of bankruptcy.
Guggenheim Securities has lowered its target price for SunPower from $1 to $0, analysts Joseph Osha and Hilary Cauley wrote in Friday's report, "This actually marks the end of SPWR as an operating company
Guggenheim analysts said that SunPower is likely to "enter into (bankruptcy) liquidation proceedings" and ultimately sell its remaining assets and delist its stocks. "Considering the company's accumulated debt, we believe that SPWR's equity no longer holds any value
Earlier this week, JPMorgan analysts told clients that SunPower's suspension of operations is "indefinite" and may not be resolved soon. The bank explained that this decision was mainly due to the weakening of its cash flow and balance sheet. Additionally, due to the company's inability to submit documents to the SEC, it may not be able to enter the capital market.
Analysis suggests that there are two very important catalytic factors for the growth of rooftop solar business in the United States: low interest rates, which enable consumers to afford the cost of such installations, and state-level policies, where households installing equipment can receive generous rewards for selling excess solar power to the grid.
But currently, these two factors clearly do not exist. The high interest rates of the Federal Reserve go without saying, while California, the largest solar energy market in the United States and the headquarters of SunPower, has reduced the returns for households and businesses to transmit excess solar power to the grid, causing a significant blow to the industry.
However, Guggenheim believes that SunPower's suspension of operations may provide an important opportunity for competitors, and Sunnova may benefit from it. As of press time, Sunnova's stock price has risen by over 4%.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- High salary hires' fire brigade leader 'to become CEO, understanding the ups and downs of Starbucks' stock price this year with a picture
- US retail giant Target's US stock rose over 10% in pre-market trading
- Is returning Warcraft useless? NetEase's stock price suddenly collapsed!
- Vaccine giant responds: nationwide suspension
- Iron ore giant, change of leadership
- Seven sisters of science and technology share prices soared and plummeted, and the suspense of artificial intelligence foam remained unsolved
- Smallpox vaccine approved by FDA for preventing monkeypox infection, causing a huge shock in Emergent's stock price
- After clocking in to work, I didn't come out again and was only discovered 4 days later! US trillion dollar banking giant, employee dies at workstation, police: investigating
- What are investors worried about when the stock price is hovering at a low level?
- Cloud computing giant enters AI talent battle, acquires AI voice agency Tenyx
-
过去一周的时间里,有关苹果微信“二选一”的话题持续霸占各个平台热搜,甚至有媒体还在微博发起了“如果苹果微信二选一,你选择iPhone还是微信?”的投票,当然结果是微信取得了压倒性的胜利。 从最新的 ...
- lub_pig
- 昨天 17:05
- 支持
- 反对
- 回复
- 收藏
-
今日,特斯拉AI团队发布产品路线图,其中,预计2025年第一季度在中国和欧洲推出完全自动驾驶(FSD),但仍有待监管批准。 自2016年以来,马斯克一直在探索特斯拉的FSD自动驾驶方案。2024年,特斯拉FSD V12 ...
- seisei
- 前天 16:32
- 支持
- 反对
- 回复
- 收藏
-
【全球市场】1、道指跌0.54%,纳指涨0.25%,标普跌0.30%。2、特斯拉涨近5%,亚马逊涨超2%。3、纳斯达克中国金龙指数涨0.88%,蔚来涨超14%。
- wishii
- 昨天 22:03
- 支持
- 反对
- 回复
- 收藏
-
【ASML CEO回应对华出口限制:会有更多应对措施】当地时间9月4日,荷兰计算机芯片设备供应商ASML首席执行官Christophe Fouquet在花旗银行的一场会议上表示,美国限制ASML对华出口是出于“经济动机”。他预计该公司应 ...
- mbgg2797
- 前天 09:15
- 支持
- 反对
- 回复
- 收藏