Maxeon Solar Technologies Ltd (NASDAQ:MAXN) price on Friday, November 15, fall -13.22% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.98.
A look at the stock’s price movement, the close in the last trading session was $11.50, moving within a range at $9.5134 and $10.87. The beta value (5-Year monthly) was 1.413. Turning to its 52-week performance, $779.99 and $4.98 were the 52-week high and 52-week low respectively. Overall, MAXN moved 79.82% over the past month.
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Maxeon Solar Technologies Ltd’s market cap currently stands at around $152.60 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Sep-03.
Analysts have a consensus estimate of 65.6M for the company’s revenue for the quarter, with a low and high estimate of 65.6M and 65.6M respectively. The average forecast suggests down to a -71.18% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 537.35M, representing a -52.16% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MAXN is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend MAXN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Sell which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MAXN’s current price about 14.73% and 22.63% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 52.79, while 7-day volatility ratio is 19.63% and 20.34% in the 30-day chart. Further, Maxeon Solar Technologies Ltd (MAXN) has a beta value of 1.48, and an average true range (ATR) of 1.91. Analysts have given the company’s stock an average 52-week price target of $3, forecast between a low of $1 and high of $8. Looking at the price targets, the low is 89.98% off current price level while to achieve the yearly target high, price needs to move 19.84%. Nonetheless, investors will most likely welcome a 69.94% jump to $3 which is the analysts’ median price.
If we refocus on Maxeon Solar Technologies Ltd (NASDAQ:MAXN), historical trading data shows that trading volumes averaged 2.31 over the past 10 days and 1.30 million over the past 3 months. The company’s latest data on shares outstanding shows there are 15.29 million shares.
The 64.81% of Maxeon Solar Technologies Ltd’s shares are in the hands of company insiders while institutional holders own 4.34% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.52 million on 2024-10-31, giving us a short ratio of 0.97. The data shows that as of 2024-10-31 short interest in Maxeon Solar Technologies Ltd (MAXN) stood at 1009.0 of shares outstanding, with shares short rising to 0.7 million registered in 2024-09-30. Current price change has pushed the stock -98.61% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MAXN stock continues to rise going into the next quarter.
