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Tuesday, October 20, 2020

Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) on the Path to Profitability

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Maxeon Solar Technologies Ltd. (MAXN) shares are trading at higher $14.38 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $18.00.

To add more color to this target, the company’s high over the last year is $37.62 and the low is $11.78 while the S&P 500 is up 10.68%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MAXN has a short ratio of 2.98 and outstanding shares of 28.14M.

Company Outlook

MAXN has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -6.74. Investors should also keep an eye on sector updates as MAXN has historically followed its peers on positive news.

All told, Maxeon Solar Technologies Ltd. MAXN has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MAXN represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Maxeon Solar Technologies Ltd. MAXN is now commanding a market cap of 404.65M and a float of 10.27M. MAXN is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MAXN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MAXN, either long or short, and we have not been compensated for this article.

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