Maxeon Solar Technologies, Ltd. (MAXN) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Maxeon Solar Technologies, Ltd. (MAXN) standing at $4.88, reflecting a -1.41% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.53%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
Coming into today, shares of the company had lost 32.47% in the past month. In that same time, the Oils-Energy sector lost 4.39%, while the S&P 500 gained 2.48%.
The upcoming earnings release of Maxeon Solar Technologies, Ltd. will be of great interest to investors. It is anticipated that the company will report an EPS of -$2.06, marking a 11.96% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $241.83 million, reflecting a 25.25% fall from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Maxeon Solar Technologies, Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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. At present, this industry carries a Zacks Industry Rank of 219, placing it within the bottom 14% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Maxeon Solar Technologies, Ltd. (MAXN) : Free Stock Analysis Report
