What You Need To Know About Maxeon Solar Technologies Ltd. (MAXN)

Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) finished Friday with a subtraction of -$1.0 to close at $18.18, a downside of -5.21 percent. An average of 424,720 shares of common stock have been traded in the last five days. There was a gain of $0.38 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 576,350 shares traded, while the 50-day average volume stands at 485,460.

MAXN stock has decreased by -6.63% in the last month. The company shares reached their 1-month lowest point of $15.33 on 10/06/21. With the stock rallying to its 52-week high on 02/10/21, shares of the company touched a low of $14.01 and a high of $57.97 in 52 weeks. It has reached a new high 13 times so far this year and lost -35.92% or -$10.19 in price. In spite of this, the price is down -68.64% from the 52-week high.

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Valuation Metrics

Maxeon Solar Technologies Ltd. (MAXN) has a trailing price-to-earnings (P/E) ratio of 31.10 for the broader industry and 38.99 for the sector. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.04, the price-to-book (PB) ratio at 1.45.

The quick ratio of Maxeon Solar Technologies Ltd. for the three months ended June 29 was 1.30, and the current ratio was 2.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.29 and a total debt to equity ratio of 0.34 for the quarter ending June 29. Maxeon Solar Technologies Ltd.’s EBITDA margin for the year ending June 29 is -10.04%, while its operating margin for the same period stands at -17.90%. Its gross profit as reported stood at -$130.18 million compared to revenue of $844.84 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Maxeon Solar Technologies Ltd.’s return on assets was -17.70%. For the broader industry, ROE averaged -0.25 over the past year.

Earnings Surprise

The analyst consensus anticipated Maxeon Solar Technologies Ltd.’s latest quarter earnings to come in at -$1.39 per share, but it turned out to be -$1.99, a -43.20% surprise. For the quarter, EBITDA amounted to -$31.14 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Maxeon Solar Technologies Ltd. (MAXN) price momentum. RSI 9-day as of the close on 22 October was 50.71%, suggesting the stock is Neutral, with historical volatility in this time frame at 55.43%.

As of today, MAXN’s price is $18.42 +2.13% or $0.38 from its 5-day moving average. MAXN is currently trading -4.11% lower than its 20-day SMA and +13.41% higher than its 100-day SMA. However, the stock’s current price level is +16.09% above the SMA50 and -50.90% below the SMA200.

The stochastic %K and %D were 77.28% and 73.54%, respectively, and the average true range (ATR) was 1.28. With the 14-day stochastic at 64.33% and the average true range at 1.27, the RSI (14) stands at 51.48%. The stock has reached 0.31 on the 9-day MACD Oscillator while the 14-day reading was at 0.89.

Analyst Ratings

Raymond James downgraded Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Strong buy. The consensus rating for Maxeon Solar Technologies Ltd. (MAXN) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell MAXN, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 0 others rate it as a “buy”.

What is MAXN’s price target for the next 12 months?

Analysts predict a range of price targets between $12.00 and $23.00, with a median target of $18.00. Taking a look at these predictions, the average price target given by analysts for Maxeon Solar Technologies Ltd. (MAXN) stock is $17.80.


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