Maxeon Solar Technologies, Ltd. (MAXN) Ascends But Remains Behind Market: Some Facts to Note
The latest trading session saw Maxeon Solar Technologies, Ltd. (MAXN) ending at $5.63, denoting a +0.18% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 0.75%.
Coming into today, shares of the company had gained 39.11% in the past month. In that same time, the Oils-Energy sector gained 1.25%, while the S&P 500 gained 3.4%.
Investors will be eagerly watching for the performance of Maxeon Solar Technologies, Ltd. in its upcoming earnings disclosure. 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.
Investors should also take note of any recent adjustments to analyst estimates for Maxeon Solar Technologies, Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Maxeon Solar Technologies, Ltd. presently features a Zacks Rank of #5 (Strong Sell).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 219, positioning it in the bottom 14% 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.
To follow MAXN in the coming trading sessions, be sure to utilize Zacks.com.
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Maxeon Solar Technologies, Ltd. (MAXN) : Free Stock Analysis Report
