Maxeon Solar Technologies Ltd (NASDAQ: MAXN) Stock Could Reward Investors With A Loss Of -831.03%

In the last trading session, 1.78 million shares of the Maxeon Solar Technologies Ltd (NASDAQ:MAXN) were traded, and its beta was 1.46. Most recently the company’s share price was $2.90, and it changed around -$0.31 or -9.66% from the last close, which brings the market valuation of the company to $153.06M. MAXN currently trades at a discount to its 52-week high of $38.91, offering almost -1241.72% off that amount. The share price’s 52-week low was $2.84, which indicates that the current value has risen by an impressive 2.07% since then. We note from Maxeon Solar Technologies Ltd’s average daily trading volume that its 10-day average is 1.95 million shares, with the 3-month average coming to 2.23 million.

Maxeon Solar Technologies Ltd (NASDAQ:MAXN) trade information

Instantly MAXN has showed a red trend with a performance of -9.66% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -59.55% year-to-date, but still down -7.05% over the last five days. On the other hand, Maxeon Solar Technologies Ltd (NASDAQ:MAXN) is -31.92% down in the 30-day period. We can see from the shorts that 11.04 million shares have been sold at a short interest cover period of 4.45 day(s).

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The consensus price target as assigned by Wall Street analysts is $27, which translates to bulls needing to increase their stock price by 89.26% from its current value. Analyst projections state that MAXN is forecast to be at a low of $27 and a high of $27.

Maxeon Solar Technologies Ltd (MAXN) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 18.50% in revenue this quarter, and will report a decrease of -306.50% in the next quarter. The year-over-year growth rate is expected to be 6.50%, up from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $233.8 million in revenue for the current quarter. 5 analysts expect Maxeon Solar Technologies Ltd to make $242.33 million in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $323.5 million and $318.33 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -27.70%. Forecasts for the next quarter put sales growth at -23.90%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 30.74%.

MAXN Dividends

Maxeon Solar Technologies Ltd’s next quarterly earnings report is expected to be released around May 08 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 38.80% of Maxeon Solar Technologies Ltd shares, and 56.06% of them are in the hands of institutional investors. The stock currently has a share float of 91.61%. Maxeon Solar Technologies Ltd stock is held by 202 institutions, with Wellington Management Group, LLP being the largest institutional investor. By Jun 29, 2023, it held 3.66% of the shares, which is about 1.92 million shares worth $54.14 million.

Blackrock Inc., with 3.62% or 1.9 million shares worth $53.57 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Invesco ETF TR II-Invesco Solar ETF and iShares Russell 2000 ETF were the top two Mutual Funds as of Aug 30, 2023. The former held 0.92 million shares worth $14.45 million, making up 1.75% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 0.57 million shares worth around $8.98 million, which represents about 1.09% of the total shares outstanding.