Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Given Average Rating of “Strong Sell” by Brokerages

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has earned a consensus recommendation of “Strong Sell” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $26,072.00.

Separately, Morgan Stanley reissued an “underweight” rating and issued a $4.00 price target on shares of Maxeon Solar Technologies in a report on Friday, November 15th.

Maxeon Solar Technologies Price Performance

Shares of NASDAQ MAXN opened at $8.25 on Friday. Maxeon Solar Technologies has a 1-year low of $4.98 and a 1-year high of $779.99. The business has a fifty day moving average price of $298.20 and a 200 day moving average price of $6,366.59. The stock has a market capitalization of $4.54 million, a P/E ratio of -0.01 and a beta of 1.42.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $300.00 EPS for the quarter, topping the consensus estimate of ($11,200.00) by $11,500.00. The firm had revenue of $184.22 million during the quarter, compared to analyst estimates of $175.35 million. Maxeon Solar Technologies had a negative net margin of 43.85% and a negative return on equity of 1,598.11%. As a group, equities research analysts anticipate that Maxeon Solar Technologies will post -27 earnings per share for the current fiscal year.

Institutional Trading of Maxeon Solar Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in MAXN. Paloma Partners Management Co purchased a new position in shares of Maxeon Solar Technologies during the 1st quarter valued at approximately $44,000. SG Americas Securities LLC raised its position in shares of Maxeon Solar Technologies by 12.2% in the first quarter. SG Americas Securities LLC now owns 54,602 shares of the company’s stock worth $182,000 after acquiring an additional 5,941 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Maxeon Solar Technologies by 275.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock worth $72,000 after acquiring an additional 62,054 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Maxeon Solar Technologies during the 2nd quarter valued at about $86,000. Finally, XTX Topco Ltd purchased a new position in shares of Maxeon Solar Technologies in the 2nd quarter valued at about $130,000. Institutional investors and hedge funds own 47.67% of the company’s stock.

Maxeon Solar Technologies Company Profile

Maxeon Solar Technologies, Ltd. designs, manufactures, markets, and sells solar panels and related solar system components worldwide. The company provides interdigitated back contact and shingled solar cells and panels under the SunPower brand. It offers its products to dealers, project developers, system integrators, distributors, resellers, and residential and small-scale commercial customers.