Taking this into account, Goldman downgraded its Maxeon Solar Technologies Ltd [MAXN] rating to a Sell from a a Buy in a research note published on June 04, 2024; the price target was decreased to $1 from $11. A number of analysts have revised their coverage, including Northland Capital’s analysts, who decreased its forecast for the stock in late May from “a Market perform” to “an Under perform”. Raymond James also remained covering MAXN and has decreased its forecast on April 09, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating. UBS revised its rating on March 08, 2024. It rated MAXN as “a Sell” which previously was an “a Neutral”.
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Price Performance Review of MAXN
On Tuesday, Maxeon Solar Technologies Ltd [NASDAQ:MAXN] saw its stock jump 7.63% to $0.09. Over the last five days, the stock has gained 7.50%. Maxeon Solar Technologies Ltd shares have fallen nearly -98.80% since the year began. Nevertheless, the stocks have fallen -99.37% over the past one year. While a 52-week high of $13.68 was reached on 01/02/24, a 52-week low of $0.08 was recorded on 09/09/24. SMA at 50 days reached $0.1608, while 200 days put it at $2.6691.
Levels Of Support And Resistance For MAXN Stock
The 24-hour chart illustrates a support level at 0.0804, which if violated will result in even more drops to 0.0749. On the upside, there is a resistance level at 0.0915. A further resistance level may holdings at 0.0971. The Relative Strength Index (RSI) on the 14-day chart is 33.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0100, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.97%. Stochastics %K at 8.55% indicates the stock is a buying.
How much short interest is there in Maxeon Solar Technologies Ltd?
A steep rise in short interest was recorded in Maxeon Solar Technologies Ltd stocks on 2024-08-30, growing by 33.08 million shares to a total of 58.44 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 25.36 million shares. There was a rise of 56.6%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on November 21, 2023 when Mizuho began covering the stock and recommended ‘”a Neutral”‘ rating along with a $7 price target.
