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Why Maxeon Solar Technologies, Ltd. (MAXN) Outpaced the Stock Market Today
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Maxeon Solar Technologies, Ltd. (MAXN - Free Report) ended the recent trading session at $4.81, demonstrating a +1.05% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.24%.
Shares of the company have depreciated by 15.45% over the course of the past month, underperforming the Oils-Energy sector's loss of 1.2% and the S&P 500's gain of 6.45%.
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.
Investors might also notice recent changes to analyst estimates for Maxeon Solar Technologies, Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Maxeon Solar Technologies, Ltd. boasts a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 46% echelons of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why Maxeon Solar Technologies, Ltd. (MAXN) Outpaced the Stock Market Today
Maxeon Solar Technologies, Ltd. (MAXN - Free Report) ended the recent trading session at $4.81, demonstrating a +1.05% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.24%.
Shares of the company have depreciated by 15.45% over the course of the past month, underperforming the Oils-Energy sector's loss of 1.2% and the S&P 500's gain of 6.45%.
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.
Investors might also notice recent changes to analyst estimates for Maxeon Solar Technologies, Ltd. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Maxeon Solar Technologies, Ltd. boasts a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 46% echelons of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.