Maxeon Solar Technologies Ltd (NASDAQ:MAXN) traded with a subtraction of -$0.54 to $11.68 on Thursday, a downside of -4.42 percent. An average of 884,671 shares of common stock have been traded in the last five days. There was a fall of -$0.66 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 883,468 shares traded, while the 50-day average volume stands at 1,308,809.
MAXN stock has decreased by -22.44% in the last month. The company shares reached their 1-month lowest point of $11.30 on 09/28/23. With the stock rallying to its 52-week high on 05/12/23, shares of the company touched a low of $11.76 and a high of $38.91 in 52 weeks. It has reached a new high 23 times so far this year and lost -27.27% or -$4.49 in price. In spite of this, the price is down -69.98% from the 52-week high.
Valuation Metrics
Maxeon Solar Technologies Ltd (MAXN) has a trailing price-to-earnings (P/E) ratio of N/A for the broader industry. The stock’s beta is 1.60. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.49, the price-to-book (PB) ratio at 1.97.
Financial Health
The quick ratio of Maxeon Solar Technologies Ltd for the three months ended June 29 was 1.12, and the current ratio was 1.77, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.52 and a total debt to equity ratio of 1.67 for the quarter ending June 29. Its gross profit as reported stood at -$200.29 million compared to revenue of $1.06 billion.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$267.42 million in the quarter, while revenues were grew 4.82%. The analyst consensus anticipated Maxeon Solar Technologies Ltd’s latest quarter earnings to come in at -$0.08 per share, but it turned out to be -$0.03, a 62.50% surprise. For the quarter, EBITDA amounted to $22.98 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 27 September was 19.51%, suggesting the stock is oversold, with historical volatility in this time frame at 28.49%.
As of today, MAXN’s price is $12.03 -5.40% or -$0.66 from its 5-day moving average. MAXN is currently trading -27.00% lower than its 20-day SMA and -57.76% lower than its 100-day SMA. However, the stock’s current price level is -57.94% below the SMA50 and -42.15% below the SMA200.
The stochastic %K and %D were 9.96% and 9.47%, respectively, and the average true range (ATR) was 0.71. With the 14-day stochastic at 6.74% and the average true range at 0.80, the RSI (14) stands at 24.74%. The stock has reached -0.37 on the 9-day MACD Oscillator while the 14-day reading was at -1.06.
Analyst Ratings
ROTH MKM upgraded Maxeon Solar Technologies Ltd (NASDAQ: MAXN) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Maxeon Solar Technologies Ltd (MAXN) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MAXN, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 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 $22.00 and $40.00, with a median target of $31.00. Taking a look at these predictions, the average price target given by analysts for Maxeon Solar Technologies Ltd (MAXN) stock is $31.17.
