In the last trading session, 2.92 million Maxeon Solar Technologies Ltd (NASDAQ:MAXN) shares changed hands as the company’s beta touched 1.55. With the company’s per share price at $5.43 changed hands at $0.24 or 4.62% during last session, the market valuation stood at $286.60M. MAXN’s last price was a discount, traded about -616.57% off its 52-week high of $38.91. The share price had its 52-week low at $4.89, which suggests the last value was 9.94% up since then. When we look at Maxeon Solar Technologies Ltd’s average trading volume, we note the 10-day average is 2.36 million shares, with the 3-month average coming to 1.42 million.
Analysts gave the Maxeon Solar Technologies Ltd (MAXN) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.62. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 6 recommended MAXN as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Maxeon Solar Technologies Ltd’s EPS for the current quarter is expected to be -$1.29.
Maxeon Solar Technologies Ltd (NASDAQ:MAXN) trade information
Instantly MAXN was in green as seen at the end of in last trading. With action 3.63%, the performance over the past five days has been green. The jump to weekly highs of 6.92 on Friday, 11/17/23 added 4.62% to the stock’s daily price. The company’s shares are showing year-to-date downside of -66.19%, with the 5-day performance at 3.63% in the green. However, in the 30-day time frame, Maxeon Solar Technologies Ltd (NASDAQ:MAXN) is -33.05% down. Looking at the short shares, we see there were 5.63 million shares sold at short interest cover period of 3.6 days.
The consensus price target for the stock as assigned by Wall Street analysts is $10.29, meaning bulls need an upside of 47.23% from its current market value. According to analyst projections, MAXN’s forecast low is $6.00 with $18.00 as the target high. To hit the forecast high, the stock’s price needs a -231.49% plunge from its current level, while the stock would need to soar -10.5% for it to hit the projected low.
Maxeon Solar Technologies Ltd (MAXN) estimates and forecasts
Data shows that the Maxeon Solar Technologies Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -82.06% over the past 6 months, a 79.82% in annual growth rate that is considerably higher than the industry average of 22.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Maxeon Solar Technologies Ltd will rise 29.90%, while the growth in revenue is estimated to hit -263.00% for the next quarter. Year-over-year growth is forecast to reach 10.70% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $245.69 million. 4 analysts are of the opinion that Maxeon Solar Technologies Ltd’s revenue for the quarter ending Mar 2024 will be $232.81 million. The company’s revenue for the corresponding quarters a year ago was $323.5 million and $318.33 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -24.10%. The estimates for the next quarter sales put growth at -26.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 30.74%. The 2023 estimates are for Maxeon Solar Technologies Ltd earnings to increase by 67.37%.
Maxeon Solar Technologies Ltd is expected to release its next quarterly earnings report on November 15.