In yesterday’s Wall Street session, Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) shares traded at $27.32, up 1.19% from the previous session.
As of this writing, 6 analysts cover Maxeon Solar Technologies Ltd. (NASDAQ:MAXN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $21.00, we find $26.50. Given the previous closing price of $27.00, this indicates a potential downside of -1.85 percent. MAXN stock price is now 40.35% away from the 50-day moving average and 48.73% away from the 200-day moving average. The market capitalization of the company currently stands at $1.18B.
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There are 2 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $26.33 as their price target over the next twelve months.
With the price target maintained at $22, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Maxeon Solar Technologies Ltd. (NASDAQ: MAXN). On September 16, 2022, BofA Securities reiterated its ‘Buy’ rating on the stock by increasing its target price from $25 to quote $30, while ‘Goldman’ rates the stock as ‘Buy’.
A total of 49.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MAXN stock. A new stake in Maxeon Solar Technologies Ltd. shares was purchased by DECADE RENEWABLE PARTNERS LP during the first quarter worth $11,717,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. invested $2,952,000 in shares of MAXN during the first quarter. In the first quarter, GSA CAPITAL PARTNERS LLP acquired a new stake in Maxeon Solar Technologies Ltd. valued at approximately $1,889,000. CLEAN ENERGY TRANSITION LLP acquired a new stake in MAXN for approximately $1,812,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in MAXN valued at around $789,000 in the second quarter. In total, there are 184 active investors with 39.00% ownership of the company’s stock.
Thursday morning saw Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) opened at $27.17. During the past 12 months, Maxeon Solar Technologies Ltd. has had a low of $8.85 and a high of $27.99. As of last week, the company has a debt-to-equity ratio of 3.44, a current ratio of 1.40, and a quick ratio of 0.80. The fifty day moving average price for MAXN is $19.47 and a two-hundred day moving average price translates $18.37 for the stock.
The latest earnings results from Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) was released for Oct, 2022. According to the Solar Company, earnings per share came in at -$1.09, beating analysts’ expectations of -$1.56 by 0.47. This compares to -$2.04 EPS in the same period last year. The net profit margin was -27.70% and return on equity was -119.60% for MAXN. The company reported revenue of $323.5 million for the quarter, compared to $221.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 46.06 percent. For the current quarter, analysts expect MAXN to generate $315.7M in revenue.
Maxeon Solar Technologies Ltd.(MAXN) Company Profile
Maxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers. Maxeon Solar Technologies, Ltd. was incorporated in 2019 and is headquartered in Singapore.
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