With over 3.47 million Maxeon Solar Technologies Ltd (MAXN) shares trading Tuesday and a closing price of $7.55 on the day, the dollar volume was approximately $26.2 million. The shares have shown a negative half year performance of -71.21% and its price on 12/26/23 gained nearly 9.58%. Currently, there are 45.03M common shares owned by the public and among those 31.18M shares have been available to trade.
Shares of Maxeon Solar Technologies Ltd (NASDAQ: MAXN) opened at $7.05, up $0.16 from a prior closing price of $6.89. However, the script later moved the day high at 7.72, up 9.58%. The company’s stock has a 5-day price change of 36.28% and -37.71% over the past three months. MAXN shares are trading -52.99% year to date (YTD), with the 12-month market performance down to -59.36% lower. It has a 12-month low price of $3.91 and touched a high of $38.91 over the same period. MAXN has an average intraday trading volume of 2.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 50.49%, 29.03%, and -59.79% respectively.
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Institutional ownership of Maxeon Solar Technologies Ltd (NASDAQ: MAXN) shares accounts for 51.02% of the company’s 45.03M shares outstanding.
It has a market capitalization of $398.49M and a beta (3y monthly) value of 1.56. The earnings-per-share (ttm) stands at -$3.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.82% over the week and 12.26% over the month.
Analysts forecast that Maxeon Solar Technologies Ltd (MAXN) will achieve an EPS of -$1.52 for the current quarter, -$0.98 for the next quarter and -$2.71 for 2024. The lowest estimate earnings-per-share for the quarter is -$2.6 while analysts give the company a high EPS estimate of -$0.87. Comparatively, EPS for the current quarter was -$1.84 a year ago. Earnings per share for the fiscal year are expected to increase by 57.69%, and 4.42% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Maxeon Solar Technologies Ltd (MAXN) as a “Moderate Buy” at a consensus score of 2.62. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 6 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MAXN, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on November 21, 2023, with the firm’s price target at $7.
