SunPowerSunPower Corp. (NASDAQ: SPWR) stock was a strong bet for alternative energy investors earlier this year. The future potential for solar energy, especially in the business, government, and residential sectors made this one of the most compelling stocks in its industry. Investors who bought this stock three months ago have seen a 63% gain, confirming that the hype was very real.

Stock has now passed the $10 sweet spot but it’s still in bargain territory. It’s still below its 52-week peak of $12.79, and SunPower just announced a surprise profit, which is sending confidence upwards again.

The company generated $436 million in revenue in Q2. It earned a total of $122 million in profit, compared to a loss of $447 million in the year ago period. Earnings per share was $0.75, compared to an analyst consensus expectation of $-0.19. This is the kind of turnaround that investors have wanted to see since 2018. Stock rallied 22% after the earnings call and is now up 13.61% over five days.

SunPower still has a long way to go to prove that it can be consistently profitable. However, with time, the company’s fiscal management and general growth in the solar industry could make this one of the strongest stocks in the energy sector. As it is today, SunPower is again a top stock to consider for clean energy portfolios.

Key Data:

  • 1 Year Price Growth: 25%
  • YTD Price Growth: 21%
  • 3 Month Price Growth: 04%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.