Market cap of Maxeon Solar Technologies Ltd. [MAXN] reaches 1.16B – now what?

Maxeon Solar Technologies Ltd. [NASDAQ: MAXN] gained 44.00% or 8.25 points to close at $27.00 with a heavy trading volume of 11431258 shares. The company report on March 7, 2023 that Maxeon Solar Technologies Announces Fourth Quarter and Fiscal Year 2022 Financial Results.

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–Record Gross Profit of $20 million in fourth quarter of 2022—-Guiding Positive Adj. EBITDA in first quarter of 2023–.

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) (“Maxeon” or “the Company”), a global leader in solar innovation and channels, today announced its financial results for its fourth quarter and fiscal year ended January 1, 2023.

It opened the trading session at $23.78, the shares rose to $27.13 and dropped to $23.05, the range by which the price of stock traded the whole day. The daily chart for MAXN points out that the company has recorded 39.18% gains over the past six months. However, it is still -205.08% lower than its most recent low trading price.

If we look at the average trading volume of 484.45K shares, MAXN reached to a volume of 11431258 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Maxeon Solar Technologies Ltd. [MAXN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MAXN shares is $23.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MAXN stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Maxeon Solar Technologies Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 04, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $25 to $30. The new note on the price target was released on September 16, 2022, representing the official price target for Maxeon Solar Technologies Ltd. stock. Previously, the target price had yet another raise from $9 to $27, while Goldman kept a Buy rating on MAXN stock.

The Average True Range (ATR) for Maxeon Solar Technologies Ltd. is set at 1.81, with the Price to Sales ratio for MAXN stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 8.85, with the Price to Cash per share for the same quarter was set at 6.41.

Trading performance analysis for MAXN stock

Maxeon Solar Technologies Ltd. [MAXN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 49.01. With this latest performance, MAXN shares gained by 25.35% in over the last four-week period, additionally plugging by 39.18% over the last 6 months – not to mention a rise of 145.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MAXN stock in for the last two-week period is set at 75.45, with the RSI for the last a single of trading hit 83.44, and the three-weeks RSI is set at 69.39 for Maxeon Solar Technologies Ltd. [MAXN]. The present Moving Average for the last 50 days of trading for this stock 19.47, while it was recorded at 20.30 for the last single week of trading, and 18.37 for the last 200 days.

Maxeon Solar Technologies Ltd. [MAXN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Maxeon Solar Technologies Ltd. [MAXN] shares currently have an operating margin of -20.98 and a Gross Margin at -3.99. Maxeon Solar Technologies Ltd.’s Net Margin is presently recorded at -32.49.

Return on Equity for this stock declined to -65.09, with Return on Assets sitting at -24.99.

Maxeon Solar Technologies Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.40.

An analysis of insider ownership at Maxeon Solar Technologies Ltd. [MAXN]

There are presently around $395 million, or 39.00% of MAXN stock, in the hands of institutional investors. The top three institutional holders of MAXN stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 1,976,102, which is approximately -0.741% of the company’s market cap and around 49.30% of the total institutional ownership; INVESCO LTD., holding 1,939,474 shares of the stock with an approximate value of $52.37 million in MAXN stocks shares; and BLACKROCK INC., currently with $36.51 million in MAXN stock with ownership of nearly -13.466% of the company’s market capitalization.

Positions in Maxeon Solar Technologies Ltd. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 57 institutional holders increased their position in Maxeon Solar Technologies Ltd. [NASDAQ:MAXN] by around 2,404,099 shares. Additionally, 54 investors decreased positions by around 2,350,601 shares, while 36 investors held positions by with 9,884,550 shares. The mentioned changes placed institutional holdings at 14,639,250 shares, according to the latest SEC report filing. MAXN stock had 24 new institutional investments in for a total of 767,211 shares, while 25 institutional investors sold positions of 1,116,580 shares during the same period.


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