What's Going On With SunPower Stock?

SunPower Corporation SPWR shares are trading higher Friday amid another surge in meme stocks in anticipation of a livestream scheduled on Roaring Kitty's YouTube channel.

The Details:

Keith Gill, a.k.a. Roaring Kitty, posted a screenshot of what is believed to be his very large position in GameStop on Sunday and on Thursday a livestream was scheduled on the Roaring Kitty YouTube channel for 12 p.m. Friday. 

SunPower shares have often moved with GameStop during the recent meme stock revival due, in part, to the large amount of retail interest and high short-interest in the stock. According to data from Benzinga Pro, 24.68% of available SunPower shares are being sold short. 

SunPower shares rallied Wednesday after an Axios report stated that the Biden administration is being pushed to investigate Chinese solar companies for allegedly evading U.S. tariffs. 

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Is SPWR A Good Stock To Buy?

Wall Street analysts view SunPower on the whole as a Neutral, given the history of coverage over the past three months. Tristan Richardson from Scotiabank in SunPower is the most bearish, expecting a 33.33% fall in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, SunPower rose 32.23%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which fell 22.89% over the past year.

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SPWR Price Action: According to Benzinga Pro, SunPower shares are up 15% at $3.99 at the time of publication Friday.

Image: Andreas from Pixabay