Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) stock jumped 27.20% on Friday to $14.45 against a previous-day closing price of $11.36. With 1.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.39 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $14.73 whereas the lowest price it dropped to was $12.91. The 52-week range on MAXN shows that it touched its highest point at $25.39 and its lowest point at $7.48 during that stretch. It currently has a 1-year price target of $13.60.
Do You Know The Best Place To Find Gains In Volatile Markets?
In today's chaotic marketplace, the biggest gains will come from some currently-small companies that pass by older, larger businesses still stuck in a pre-pandemic world. The trick is figuring out which small caps will be tomorrow's winners. That's why StockWire News has put together a special Wealth Building Report, highlighting 3 small cap stocks set to soar in 2023.
Click here for full details and to join for free.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MAXN was up-trending over the past week, with a rise of 26.64%, but this was up by 11.93% over a month. Three-month performance surged to 27.99% while six-month performance rose 40.84%. The stock lost -10.14% in the past year, while it has gained 3.96% so far this year. A look at the trailing 12-month EPS for MAXN yields -6.88 with Next year EPS estimates of -1.40. For the next quarter, that number is -1.60. This implies an EPS growth rate of -16.70% for this year and 90.50% for next year.
Float and Shares Shorts:
At present, 40.65 million MAXN shares are outstanding with a float of 22.41 million shares on hand for trading. On Apr 28, 2022, short shares totaled 3.22 million, which was 7.23% higher than short shares on Mar 30, 2022. In addition to Mr. Jeffrey W. Waters as the firm’s CEO & Exec. Director, Mr. Kai Strohbecke serves as its Chief Financial Officer.
Through their ownership of 39.22% of MAXN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 19.44% of MAXN, in contrast to 15.30% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in MAXN with 7.07% of the stake, Wellington Management Co. LLP holds 3,151,549 shares worth 3,151,549. A second-largest stockholder of MAXN, Invesco Capital Management LLC, holds 3,011,027 shares, controlling over 6.75% of the firm’s shares. Schroder Investment Management Lt is the third largest shareholder in MAXN, holding 1,568,034 shares or 3.52% stake. With a 2.56% stake in MAXN, the Invesco Solar ETF is the largest stakeholder. A total of 1,141,597 shares are owned by the mutual fund manager. The Invesco WilderHill Clean Energy E, which owns about 2.20% of MAXN stock, is the second-largest Mutual Fund holder. It holds 983,004 shares valued at 13.06 million. Schroder ISF – Global Energy Tran holds 2.19% of the stake in MAXN, owning 976,155 shares worth 12.97 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MAXN since 5 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MAXN analysts setting a high price target of $18.00 and a low target of $8.00, the average target price over the next 12 months is $13.60. Based on these targets, MAXN could surge 24.57% to reach the target high and fall by -44.64% to reach the target low. Reaching the average price target will result in a decline of -5.88% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MAXN will report FY 2022 earnings on 04/04/2023. Analysts have provided yearly estimates in a range of -$4.27 being high and -$5.93 being low. For MAXN, this leads to a yearly average estimate of -$5.20. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Maxeon Solar Technologies Ltd. surprised analysts by -$0.15 when it reported -$1.45 EPS against a consensus estimate of -$1.30. The surprise factor in the prior quarter was -$0.52. Based on analyst estimates, the high estimate for the next quarter is -$1.40 and the low estimate is -$1.75. The average estimate for the next quarter is thus -$1.58.