The stock of Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) increased by $0.47 on Wednesday to $15.53, up 3.12 percent. The last five days have seen an average of 834,404 shares of common stock traded. 23 times new highs were reached in the current year, with a fall of -$0.82. The average number of shares traded over the last 20 days was 1,737,406, while the average volume over the last 50 days totaled 1,375,952.
MAXN stock dropped -35.13% since last month. On 08/23/23, the company’s shares reached a one-month low of $13.25. The stock touched a high of $38.91 on 05/12/23, after rallying from a low of $13.25 in 52 weeks. The price of MAXN stock has declined by -3.30% or -$0.82 this year, reaching a new high 23 times. Still, the stock price is down -60.09% from the 52-week high.
Valuation Metrics
Beta for the stock is 1.52. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.65, the price-to-book (PB) ratio of 2.62.
Financial Health
For the three months ended June 29, Maxeon Solar Technologies Ltd.’s quick ratio was 1.10, while its current ratio was 1.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.43, and the total debt to equity ratio is 1.57. As far as profitability goes, gross margin for the trailing twelve months is 9.00% percent. Maxeon Solar Technologies Ltd.’s EBITDA margin for the year ended June 29 was -13.34%, whereas its operating margin stood at -4.30% for the same period. Based on annual data, it had gross profit of -$200.29 million and revenue of $1.06 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MAXN’s return on assets (ROA) during the last 12 months has been -7.80%. There was a -49.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -80.80%.
Earnings Surprise
According to Maxeon Solar Technologies Ltd.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.06 billion, while revenues rose by 26.11% to $0.0. It was predicted that Maxeon Solar Technologies Ltd.’s quarterly earnings would be -$0.03, but it ended up being -$0.08, beating the consensus by 62.50%. EBITDA was $22.98 million for the quarter. At the end of Maxeon Solar Technologies Ltd.’s most recent quarter ended June 29, its liabilities totaled 1.18 billion, while its total debt was $446.15 million.
Technical Picture
Here’s a quick look at Maxeon Solar Technologies Ltd.’s (MAXN) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 41.61%, suggesting the stock is Neutral, with a 64.08% historical volatility rate.
The stochastic %K and %D were 23.23% and 12.40% respectively, while the average true range (ATR) was 1.14. Based on the 14-day stochastic reading of 42.98%, the RSI (14) reading is 35.92%. On the 9-day MACD Oscillator, the stock is at 0.75, and the 14-day reading is at 0.51.
Analyst Ratings
In its most recent analyst report, ROTH MKM raised its rating on Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Maxeon Solar Technologies Ltd. (MAXN) an Overweight rating. MAXN is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is MAXN’s price target for the next 12 months?
The current consensus forecast for the stock is between $25.00 and $40.00, with a median target price of $31.00. In analyzing these forecasts, the average price target given by analysts for Maxeon Solar Technologies Ltd. (MAXN) is $32.88.
