Maxeon Solar Technologies, Ltd. (MAXN) Dips More Than Broader Market: What You Should Know
Maxeon Solar Technologies, Ltd. (MAXN) closed the latest trading day at $4.53, indicating a -1.74% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
Shares of the company witnessed a loss of 32.21% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 0.29% and the S&P 500's gain of 3.28%.
Market participants will be closely following the financial results of Maxeon Solar Technologies, Ltd. in its upcoming release. The company's upcoming EPS is projected at -$2.06, signifying a 11.96% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $241.83 million, indicating a 25.25% decrease compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Maxeon Solar Technologies, Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Maxeon Solar Technologies, Ltd. is holding a Zacks Rank of #5 (Strong Sell) right now.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Maxeon Solar Technologies, Ltd. (MAXN) : Free Stock Analysis Report