Maxar Technologies Inc. [MAXR] moved down 0.00: Why It’s Important

Maxar Technologies Inc. [NYSE: MAXR] stock went on a downward path that fall over 0.00% on Wednesday, amounting to a one-week price increase of more than 3.15%. The company report on April 19, 2023 at 4:46 PM that Maxar Technologies Stockholders Approve Acquisition by Advent International.

Maxar Technologies (NYSE:MAXR) (TSX:MAXR) (“Maxar” or the “Company”), provider of comprehensive space solutions and secure, precise, geospatial intelligence, announced that at Maxar’s Special Meeting of Stockholders (the “Special Meeting”) held earlier today, the Company’s stockholders voted to adopt the Agreement and Plan of Merger (the “merger agreement”), whereby Maxar will be acquired by Advent International (“Advent”), one of the largest and most experienced global private equity investors. Under the terms of the merger agreement, Maxar stockholders will receive $53.00 per share in cash for every share of Maxar common stock they own immediately prior to the effective time of the merger.

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At the Special Meeting, approximately 99.6% of the shares voted were voted in favor of the transaction, which represented approximately 75.4% of the total outstanding shares of Maxar common stock as of March 15, 2023, the record date for the Special Meeting.

Over the last 12 months, MAXR stock rose by 36.21%. The one-year Maxar Technologies Inc. stock forecast points to a potential downside of -18.43. The average equity rating for MAXR stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.98 billion, with 74.60 million shares outstanding and 72.21 million shares in the current float. Compared to the average trading volume of 1.18M shares, MAXR stock reached a trading volume of 1999492 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Maxar Technologies Inc. [MAXR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MAXR shares is $44.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MAXR stock is a recommendation set at 3.00. 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.

Truist have made an estimate for Maxar Technologies Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 16, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on June 21, 2022, representing the official price target for Maxar Technologies Inc. stock. Previously, the target price had yet another drop from $36 to $25, while BofA Securities kept a Underperform rating on MAXR stock. On May 10, 2022, analysts decreased their price target for MAXR shares from 42 to 38.

The Average True Range (ATR) for Maxar Technologies Inc. is set at 0.33, with the Price to Sales ratio for MAXR stock in the period of the last 12 months amounting to 2.48. The Price to Book ratio for the last quarter was 2.83, with the Price to Cash per share for the same quarter was set at 0.69. Price to Free Cash Flow for MAXR in the course of the last twelve months was 663.67 with Quick ratio for the last quarter at 0.80.

MAXR Stock Performance Analysis:

Maxar Technologies Inc. [MAXR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.15. With this latest performance, MAXR shares gained by 3.99% in over the last four-week period, additionally plugging by 160.25% over the last 6 months – not to mention a rise of 36.21% 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 MAXR stock in for the last two-week period is set at 76.03, with the RSI for the last a single of trading hit 82.73, and the three-weeks RSI is set at 72.22 for Maxar Technologies Inc. [MAXR]. The present Moving Average for the last 50 days of trading for this stock 51.25, while it was recorded at 52.12 for the last single week of trading, and 35.34 for the last 200 days.

Insight into Maxar Technologies Inc. Fundamentals:

Maxar Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Maxar Technologies Inc. [MAXR] Insider Position Details

There are presently around $3,151 million, or 79.40% of MAXR stock, in the hands of institutional investors. The top three institutional holders of MAXR stocks are: VANGUARD GROUP INC with ownership of 6,877,969, which is approximately 2.254% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 6,420,863 shares of the stock with an approximate value of $338.38 million in MAXR stocks shares; and STATE STREET CORP, currently with $155.78 million in MAXR stock with ownership of nearly -0.483% of the company’s market capitalization.

Positions in Maxar Technologies Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 155 institutional holders increased their position in Maxar Technologies Inc. [NYSE:MAXR] by around 12,222,360 shares. Additionally, 117 investors decreased positions by around 10,330,024 shares, while 29 investors held positions by with 37,229,846 shares. The mentioned changes placed institutional holdings at 59,782,230 shares, according to the latest SEC report filing. MAXR stock had 95 new institutional investments in for a total of 8,018,504 shares, while 39 institutional investors sold positions of 1,623,738 shares during the same period.


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