Maxeon Solar Technologies Ltd (NASDAQ:MAXN) shares, rose in value, with the stock price down by -1.66% to the previous day’s close as strong demand from buyers drove the stock to $1.78.
Actively observing the price movement in the last trading, the stock closed the session at $1.81. Referring to stock’s 52-week performance, its high was $38.91, and the low was $1.74. On the whole, MAXN has fluctuated by -37.76% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.12B, with a low estimate of 228.67M and a high estimate of 240.5M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 229M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MAXN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MAXN currently trading nearly -27.49% and -46.86% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 28.53, while the 7-day volatility ratio is showing 12.84% which for the 30-day chart, stands at 11.02%. Furthermore, Maxeon Solar Technologies Ltd (MAXN)’s beta value is 1.62, and its average true range (ATR) is 0.27.
A comparison of Maxeon Solar Technologies Ltd (MAXN) with its peers suggests the former has fared considerably weaker in the market. MAXN showed an intraday change of -1.66% in last session, and over the past year, it shrunk by -94.32%%.
Data on historical trading for Maxeon Solar Technologies Ltd (NASDAQ:MAXN) indicates that the trading volumes over the past 3 months, they’ve averaged 2.26 million. According to company’s latest data on outstanding shares, there are 52.78 million shares outstanding.
Nearly 40.93% of Maxeon Solar Technologies Ltd’s shares belong to company insiders and institutional investors own 53.28% of the company’s shares. The stock has fallen by -75.17% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MAXN stock heading into the next quarter.
