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Will Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) Stock Boom Or Bust From Here?

During the last session, Maxeon Solar Technologies Ltd. (NASDAQ:MAXN)’s traded shares were 0.87 million. At the end of the trading day, the stock’s price was $18.88, reflecting an intraday gain of 3.28% or $0.6. The 52-week high for the MAXN share is $25.39, that puts it down -34.48 from that peak though still a striking 60.38% gain since the share price plummeted to a 52-week low of $7.48. The company’s market capitalization is $554.51M, and the average intraday trading volume over the past 10 days was 0.7 million shares, and the average trade volume was 441.31K shares over the past three months.

Maxeon Solar Technologies Ltd. (MAXN) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.60. MAXN has a Sell rating from 1 analyst(s) out of 5 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.6.

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Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) trade information

Maxeon Solar Technologies Ltd. (MAXN) registered a 3.28% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.28% in intraday trading to $18.88 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 9.45%, and it has moved by 42.28% in 30 days. Based on these gigs, the overall price performance for the year is 25.28%. The short interest in Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) is 2.85 million shares and it means that shorts have 7.69 day(s) to cover.

The consensus price target of analysts on Wall Street is $13.60, which implies a decrease of -38.82% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8.00 and $18.00 respectively. As a result, MAXN is trading at a premium of 4.66% off the target high and 57.63% off the low.

Maxeon Solar Technologies Ltd. (MAXN) estimates and forecasts

Statistics show that Maxeon Solar Technologies Ltd. has underperformed its competitors in share price, compared to the industry in which it operates. Maxeon Solar Technologies Ltd. (MAXN) shares have gone up 114.06% during the last six months, with a year-to-date growth rate less than the industry average at 22.53% against 23.30. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 19.60% this quarter and then jump 11.40% in the quarter after that. In the rating firms’ projections, revenue will increase 44.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $221.43 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $311.21 million by the end of Sep 2022.

While earnings are projected to return -16.70% in 2022.

MAXN Dividends

Maxeon Solar Technologies Ltd. is due to release its next quarterly earnings on November 17. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Maxeon Solar Technologies Ltd. (NASDAQ:MAXN)’s Major holders

Maxeon Solar Technologies Ltd. insiders own 49.76% of total outstanding shares while institutional holders control 39.51%, with the float percentage being 78.64%. Wellington Management Group, LLP is the largest shareholder of the company, while 172 institutions own stock in it. As of Mar 30, 2022, the company held over 3.15 million shares (or 7.06% of all shares), a total value of $45.63 million in shares.

The next largest institutional holding, with 3.01 million shares, is of Invesco Ltd.’s that is approximately 6.75% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $43.61 million.

Also, the Mutual Funds coming in first place with the largest holdings of Maxeon Solar Technologies Ltd. (MAXN) shares are Invesco ETF TR II-Invesco Solar ETF and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF. Data provided on Jun 29, 2022 indicates that Invesco ETF TR II-Invesco Solar ETF owns about 1.14 million shares. This amounts to just over 2.55 percent of the company’s overall shares, with a $15.13 million market value. The same data shows that the other fund manager holds slightly less at 0.98 million, or about 2.21% of the stock, which is worth about $13.09 million.

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