Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN): Should Value Hunters Buy It?

The trading price of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) floating lower at last check on Wednesday, Apr 07, closing at $28.55, -13.13% lower than its previous close.

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Traders who pay close attention to intraday price movement should know that it has been fluctuating between $24.64 and $27.17. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $57.97 and a 52-week low of $11.78. Over the past month, the stock has gained 1.21% in value.

Maxeon Solar Technologies, Ltd., whose market valuation is $944.43 Million at the time of this writing, is expected to release its quarterly earnings report in May 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$1.04 per share this quarter, however they have predicted annual earnings per share of -$3.13 for 2021 and -$1.53 for 2022. It means analysts are expecting annual earnings per share growth of -0.46% this year and -0.51% next year.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned MAXN a recommendation rating is 3. Out of them, no one rate it a Hold, while 1 recommend Buy, whereas 1 assign an Outperform rating. None analyst(s) have tagged Maxeon Solar Technologies, Ltd. (MAXN) as Underperform, while 1 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that MAXN’s price is currently -24.36% off the SMA20 and -34.02% off the SMA50. The RSI metric on the 14-day chart is currently showing 34.7, and weekly volatility stands at 8.3%. When measured over the past 30 days, the indicator reaches 9.79%. Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 3.21. With analysts defining $16-$45 as the low and high price targets, we arrive at a consensus price target of $34.67 for the trailing 12-month period. The current price is about -35.48% off the estimated low and 81.45% off the forecast high, based on this estimate. Investors will be thrilled if MAXN’s share price rises to $43, which is the median consensus price. At that level, MAXN’s share price would be +73.39% above current price.

To see how Maxeon Solar Technologies, Ltd. stock has been performing today in comparison to its peers in the industry, here are the numbers: MAXN stock’s performance was -13.13% at last check in today’s session, and 0% in the past year, while Enphase Energy Inc (ENPH) has been trading -4.21% in recent session and positioned +450.44% higher than it was a year ago. Another comparable company Solaredge Tech (SEDG) saw its stock trading -3.97% lower in today’s session but was up +272.25% in a year. Furthermore, Sunrun Inc (RUN) showed a decline of -13.13% today while its price kept declining at 0% over the past year. Maxeon Solar Technologies, Ltd. has a P/E ratio of 0, compared to Enphase Energy Inc’s 176.05 and Solaredge Tech’s 104.15. Also during today’s trading, the S&P 500 Index has surged 0.16%, while the Dow Jones Industrial also saw a positive session, up +0.01% today.

An evaluation of the daily trading volume of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) indicates that the 3-month average is 638.87 Million. However, this figure has declined over the past 10 days to an average of 469.62 Million.

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Currently, records show that 33.5 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 59.44% of outstanding shares, whereas institutions hold 33.9%. The stats also highlight that short interest as of March 14, 2021, stood at 2.92 Million shares, resulting in a short ratio of 4.41 at that time. From this, we can conclude that short interest is 8.71% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 2.74 Million. However, since the stock’s price has seen +0.63% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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