Maxeon Solar Technologies Ltd [NASDAQ: MAXN] closed the trading session at $3.14. The company report on February 14, 2024 at 6:05 AM that Maxeon Solar Technologies Announces Completion of First Customer Installation with Next Generation Maxeon IBC Panels.
New Maxeon 7 panels set industry benchmark with efficiency exceeding 24%.
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Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar innovation and channels, today announced the completion of a new solar installation featuring its next-generation Maxeon IBC solar panels with the world’s highest conversion rate efficiency of any commercial solar panels, at 24.1%. This is the first project powered by these new Maxeon 7 panels, setting a new industry benchmark, and reaffirming the company’s innovation leadership and ability to transform technological aspirations into real-world solutions.
The stocks have a year to date performance of -56.21 percent and weekly performance of -21.89 percent. The stock has been moved at -78.54 percent over the last six months. The stock has performed -44.62 percent around the most recent 30 days and changed -28.15 percent over the most recent 3-months.
If compared to the average trading volume of 2.59M shares, MAXN reached to a volume of 3777834 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $7.38 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 2.88. 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.
UBS have made an estimate for Maxeon Solar Technologies Ltd shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 08, 2024. While these analysts kept the previous recommendation, Mizuho raised their target price to Neutral. The new note on the price target was released on November 21, 2023, representing the official price target for Maxeon Solar Technologies Ltd stock. Previously, the target price had yet another drop from $25 to $7, while Northland Capital kept a Market Perform rating on MAXN stock. On October 16, 2023, analysts decreased their price target for MAXN shares from 31 to 12.
The Average True Range (ATR) for Maxeon Solar Technologies Ltd is set at 0.42, with the Price to Sales ratio for MAXN stock in the period of the last 12 months amounting to 0.14. The Price to Book ratio for the last quarter was 0.98, with the Price to Cash per share for the same quarter was set at 5.25.
MAXN stock trade performance evaluation
Maxeon Solar Technologies Ltd [MAXN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.89. With this latest performance, MAXN shares dropped by -44.62% in over the last four-week period, additionally sinking by -78.54% over the last 6 months – not to mention a drop of -87.76% 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 31.37, with the RSI for the last a single of trading hit 25.03, and the three-weeks RSI is set at 35.30 for Maxeon Solar Technologies Ltd [MAXN]. The present Moving Average for the last 50 days of trading for this stock 4.79, while it was recorded at 3.53 for the last single week of trading, and 12.58 for the last 200 days.
Maxeon Solar Technologies Ltd [MAXN]: An insightful look at the core fundamentals
Maxeon Solar Technologies Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.87 and a Current Ratio set at 1.62.
Earnings per share (EPS) analysis for Maxeon Solar Technologies Ltd [MAXN] stock
With the latest financial reports released by the company, Maxeon Solar Technologies Ltd posted -1.84/share EPS, while the average EPS was predicted by analysts to be reported at -1.27/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -44.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MAXN.
Maxeon Solar Technologies Ltd [MAXN]: Institutional Ownership
The top three institutional holders of MAXN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MAXN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MAXN stock with ownership which is approximately 5.8325%.
