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Maxeon Solar Technologies, Ltd. (MAXN) Stock Drops Despite Market Gains: Important Facts to Note
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The most recent trading session ended with Maxeon Solar Technologies, Ltd. (MAXN - Free Report) standing at $4.18, reflecting a -0.48% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.04%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the company had lost 13.93% over the past month. This has lagged the Oils-Energy sector's gain of 6.05% and the S&P 500's gain of 5.01% in that time.
Investors will be eagerly watching for the performance of Maxeon Solar Technologies, Ltd. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$2.06, showcasing a 11.96% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $241.83 million, indicating a 25.25% decline compared to the corresponding quarter of the prior 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Maxeon Solar Technologies, Ltd. is carrying a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 173, positioning it in the bottom 32% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Maxeon Solar Technologies, Ltd. (MAXN) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Maxeon Solar Technologies, Ltd. (MAXN - Free Report) standing at $4.18, reflecting a -0.48% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.04%. Elsewhere, the Dow gained 0.16%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the company had lost 13.93% over the past month. This has lagged the Oils-Energy sector's gain of 6.05% and the S&P 500's gain of 5.01% in that time.
Investors will be eagerly watching for the performance of Maxeon Solar Technologies, Ltd. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$2.06, showcasing a 11.96% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $241.83 million, indicating a 25.25% decline compared to the corresponding quarter of the prior 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Maxeon Solar Technologies, Ltd. is carrying a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 173, positioning it in the bottom 32% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.