In last trading session, Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) saw 1.23 million shares changing hands with its beta currently measuring 1.51. Company’s recent per share price level of $13.74 trading at -$0.43 or -3.03% at ring of the bell on the day assigns it a market valuation of $707.34M. That closing price of MAXN’s stock is at a discount of -183.19% from its 52-week high price of $38.91 and is indicating a premium of 3.57% from its 52-week low price of $13.25. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.86 million shares which gives us an average trading volume of 1.31 million if we extend that period to 3-months.
For Maxeon Solar Technologies Ltd. (MAXN), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 8 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.42 in the current quarter.
Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) trade information
Upright in the red during last session for losing -3.03%, in the last five days MAXN remained trading in the red while hitting it’s week-highest on Monday, 09/11/23 when the stock touched $13.74 price level, adding 10.25% to its value on the day. Maxeon Solar Technologies Ltd.’s shares saw a change of -14.45% in year-to-date performance and have moved -7.60% in past 5-day. Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) showed a performance of -4.05% in past 30-days. Number of shares sold short was 5.2 million shares which calculate 3.08 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $31.17 to the stock, which implies a rise of 55.92% to its current value. Analysts have been projecting $22.00 as a low price target for the stock while placing it at a high target of $40.00. It follows that stock’s current price would drop -191.12% in reaching the projected high whereas dropping to the targeted low would mean a loss of -60.12% for stock’s current value.
Maxeon Solar Technologies Ltd. (MAXN) estimates and forecasts
Statistics highlight that Maxeon Solar Technologies Ltd. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -42.87% of value to its shares in past 6 months, showing an annual growth rate of 99.54% while that of industry is 35.20. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 61.50% in the current quarter and calculating 86.40% increase in the next quarter. This year revenue growth is estimated to rise 25.40% from the last financial year’s standing.
4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $306.58 million for the same. And 4 analysts are in estimates of company making revenue of $342.93 million in the next quarter that will end on Dec 2023. Company posted $277.16 million and $323.5 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 10.60% while estimating it to be 6.00% for the next quarter.
Maxeon Solar Technologies Ltd. is more likely to be releasing its next quarterly report between November 13 and November 17 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Maxeon Solar Technologies Ltd. (NASDAQ:MAXN)’s Major holders
Insiders are in possession of 38.99% of company’s total shares while institution are holding 39.34 percent of that, with stock having share float percentage of 64.49%. Investors also watch the number of corporate investors in a company very closely, which is 39.34% institutions for Maxeon Solar Technologies Ltd. that are currently holding shares of the company. Wellington Management Group, LLP is the top institutional holder at MAXN for having 1.92 million shares of worth $26.41 million. And as of Jun 29, 2023, it was holding 3.66% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 1.9 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 3.62% of outstanding shares, having a total worth of $26.14 million.
On the other hand, Invesco ETF TR II-Invesco Solar ETF and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 0.92 million shares of worth $12.6 million or 1.75% of the total outstanding shares. The later fund manager was in possession of 0.57 million shares on Jul 30, 2023, making its stake of worth around $7.82 million in the company or a holder of 1.08% of company’s stock.