In the last trading session, 1,279,353 shares of the Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) were traded, and its beta was 0. Most recently the company’s share price was $28.55, and it changed around -$1.55 or -0.05% from the last close, which brings the market valuation of the company to $956.35 Million. MAXN currently trades at a discount to its 52-week high of $57.97, offering almost -103.05% off that amount. The share price’s 52-week low was $11.78, which indicates that the current value has risen by an impressive 58.74% since then. We note from Maxeon Solar Technologies, Ltd.’s average daily trading volume that its 10-day average is 469.62 Million shares, with the 3-month average coming to 638.87 Million.
Maxeon Solar Technologies, Ltd. stock received a consensus recommendation rating of Hold, based on a mean score of 2.7. If we narrow it down even further, the data shows that 1 out of 3 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, no body recommended MAXN as a Hold, whereas 1 deemed it a Buy, and no one rated it as Underweight. Maxeon Solar Technologies, Ltd. is expected to report earnings per share of -$1.04 for the current quarter.
Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN): Trading Information
Although MAXN has showed a red trend with a performance of -5.15% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $33.81 on Monday, Apr 05 increased the stock’s daily price by 15.56%. The company’s shares are currently up 0.01% year-to-date, but still up 0.0018 over the last five days. On the other hand, Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) is 0.01% up in the 30-day period. We can see from the shorts that 2.92 Million shares have been sold at a short interest cover period of 0 day (s).
The consensus price target as assigned by Wall Street analysts is $40.33, which translates to bears needing to increase their stock price by 41.26% from its current value. Analyst projections state that MAXN is forecast to be at a low of $18 and a high of $60. In order for the stock price to hit the forecast high, the stock would need to surge +110.16% from its current level, while the stock would need to crash -36.95% from its current level to reach the projected low.
Maxeon Solar Technologies, Ltd. (MAXN) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Maxeon Solar Technologies, Ltd. earnings are expected to increase by 69.7% in 2021, but the outlook is negative 0% per year for the next five years.
Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 59.44% of Maxeon Solar Technologies, Ltd. shares, and 33.82% of them are in the hands of institutional investors. The stock currently has a share float of 83.38%. Maxeon Solar Technologies, Ltd. stock is held by 176 institutions, with Invesco Ltd. being the largest institutional investor. By Dec 30, 2020, it held 9.45% of the shares, which is about 2.01 Million shares worth $57.02 Million.
Wellington Management Group, LLP, with 9.15% or 1.95 Million shares worth $55.22 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
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Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF were the top two Mutual Funds as of Feb 27, 2021. The former held 1683826 shares worth $56.69 Million, making up 7.92% of all outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held roughly 689.94 Thousand shares worth around $23.23 Million, which represents about 3.25% of the total shares outstanding.