During the recent session, Maxeon Solar Technologies Ltd (NASDAQ:MAXN)’s traded shares were 0.51 million, with the beta value of the company hitting 1.49. At the last check today, the stock’s price was $2.83, reflecting an intraday loss of -1.22% or -$0.03. The 52-week high for the MAXN share is $38.91, that puts it down -1274.91 from that peak though still a striking 0.35% gain since the share price plummeted to a 52-week low of $2.82. The company’s market capitalization is $149.10M, and the average intraday trading volume over the past 10 days was 1.87 million shares, and the average trade volume was 2.21 million shares over the past three months.
Maxeon Solar Technologies Ltd (NASDAQ:MAXN) trade information
Maxeon Solar Technologies Ltd (MAXN) registered a -1.22% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.22% in intraday trading to $2.83, hitting a weekly high. The stock’s 5-day price performance is -15.17%, and it has moved by -29.73% in 30 days. Based on these gigs, the overall price performance for the year is -90.08%. The short interest in Maxeon Solar Technologies Ltd (NASDAQ:MAXN) is 11.04 million shares and it means that shorts have 4.45 day(s) to cover.
Maxeon Solar Technologies Ltd (MAXN) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 16.30% this quarter and then drop -306.50% in the quarter after that. In the rating firms’ projections, revenue will increase 6.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $235.96 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $242.33 million by the end of Mar 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $323.5 million and $318.33 million respectively. In this case, analysts expect current quarter sales to shrink by -27.10% and then drop by -23.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 30.74%. While earnings are projected to return -19.96% in 2024.
MAXN Dividends
Maxeon Solar Technologies Ltd is due to release its next quarterly earnings between April 15 and April 30. 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 38.80% of total outstanding shares while institutional holders control 56.06%, with the float percentage being 91.61%. Wellington Management Group, LLP is the largest shareholder of the company, while 202 institutions own stock in it. As of Jun 29, 2023, the company held over 1.92 million shares (or 3.66% of all shares), a total value of $54.14 million in shares.
The next largest institutional holding, with 1.9 million shares, is of Blackrock Inc.’s that is approximately 3.62% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $53.57 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 iShares Russell 2000 ETF. Data provided on Aug 30, 2023 indicates that Invesco ETF TR II-Invesco Solar ETF owns about 0.92 million shares. This amounts to just over 1.75 percent of the company’s overall shares, with a $14.45 million market value. The same data shows that the other fund manager holds slightly less at 0.57 million, or about 1.09% of the stock, which is worth about $8.98 million.
