Why Maxeon Solar Technologies, Ltd. (MAXN) Outpaced the Stock Market Today
Maxeon Solar Technologies, Ltd. (MAXN) closed the most recent trading day at $3.33, moving +1.83% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the company had lost 22.51% over the past month. This has lagged the Oils-Energy sector's gain of 5.98% and the S&P 500's gain of 3.55% in that time.
The upcoming earnings release of Maxeon Solar Technologies, Ltd. will be of great interest to investors. The company is expected to report EPS of -$2.06, down 11.96% from the prior-year quarter. 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 note any recent changes to analyst estimates for Maxeon Solar Technologies, Ltd. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Maxeon Solar Technologies, Ltd. boasts a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 43% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Maxeon Solar Technologies, Ltd. (MAXN) : Free Stock Analysis Report
