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Should You Expect A Quick Recovery From Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) After -15.52% Decline From High?

Maxeon Solar Technologies Ltd. (NASDAQ:MAXN)’s traded shares stood at 1.15 million during the last session. At the close of trading, the stock’s price was $25.06, to imply a decrease of -2.83% or -$0.73 in intraday trading. The MAXN share’s 52-week high remains $28.95, putting it -15.52% down since that peak but still an impressive 64.68% since price per share fell to its 52-week low of $8.85. The company has a valuation of $1.13B, with an average of 2.15 million shares in intraday trading volume over the past 10 days and average of 756.36K shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Maxeon Solar Technologies Ltd. (MAXN), translating to a mean rating of 2.20. Of 6 analyst(s) looking at the stock, 0 analyst(s) give MAXN a Sell rating. 1 of those analysts rate the stock as Overweight while 2 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.56.

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

After registering a -2.83% downside in the last session, Maxeon Solar Technologies Ltd. (MAXN) has traded red over the past five days. The stock hit a weekly high of 28.95 this Wednesday, 03/15/23, dropping -2.83% in its intraday price action. The 5-day price performance for the stock is -7.19%, and 29.24% over 30 days. With these gigs, the year-to-date price performance is 56.04%. Short interest in Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) saw shorts transact 2.97 million shares and set a 7.38 days time to cover.

Analysts on Wall Street suggest a consensus price target of $26.33, implying an increase of 4.82% to the stock’s current value. The extremes give us $21.00 and $32.00 for target low and target high price respectively. As such, MAXN has been trading -27.69% off suggested target high and 16.2% from its likely low.

Maxeon Solar Technologies Ltd. (MAXN) estimates and forecasts

Looking at statistics comparing Maxeon Solar Technologies Ltd. share performance against respective industry, we note that the company has outperformed competitors. Maxeon Solar Technologies Ltd. (MAXN) shares are 9.00% up over the last 6 months, with its year-to-date growth rate higher than industry average at 79.20% against 18.90%. Revenue is forecast to grow 61.40% this quarter before jumping 78.60% for the next one. The rating firms project that company’s revenue will grow 39.80% compared to the previous financial year.

Revenue forecast for the current quarter as set by 4 analysts is $328.12 million. Meanwhile, for the quarter ending Jun 2023, a total of 4 analyst(s) estimate revenue growth to $356.38 million.Earnings reports from the last fiscal year show that sales brought in $223.08 million and $238.08 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 47.10% before jumping 49.70% in the following quarter.

MAXN Dividends

Maxeon Solar Technologies Ltd. has its next earnings report out between May 16 and May 22. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Maxeon Solar Technologies Ltd. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Maxeon Solar Technologies Ltd. insiders hold 49.30% of total outstanding shares, with institutional holders owning 39.06% of the shares at 77.04% float percentage. In total, 39.06% institutions holds shares in the company, led by Invesco Ltd. As of Sep 29, 2022, the company held over 2.17 million shares (or 4.83% of shares), all amounting to roughly $51.64 million.

The next major institution holding the largest number of shares is Wellington Management Group, LLP with 1.99 million shares, or about 4.42% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $47.32 million.

We also have Invesco ETF TR II-Invesco Solar ETF and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF as the top two Mutual Funds with the largest holdings of the Maxeon Solar Technologies Ltd. (MAXN) shares. Going by data provided on Dec 30, 2022, Invesco ETF TR II-Invesco Solar ETF holds roughly 1.13 million shares. This is just over 2.51% of the total shares, with a market valuation of $18.17 million. Data from the same date shows that the other fund manager holds a little less at 0.57 million, or 1.26% of the shares, all valued at about 9.09 million.

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