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

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been assigned an average recommendation of “Strong Sell” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $26,072.00.

Separately, Morgan Stanley reissued an “underweight” rating and set a $4.00 price objective on shares of Maxeon Solar Technologies in a research note on Friday, November 15th.

Institutional Trading of Maxeon Solar Technologies

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd raised its holdings in shares of Maxeon Solar Technologies by 343.8% during the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after acquiring an additional 522,830 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Maxeon Solar Technologies by 275.1% during the second 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 purchased a new stake in shares of Maxeon Solar Technologies during the second quarter worth $86,000. Verition Fund Management LLC purchased a new stake in shares of Maxeon Solar Technologies during the third quarter worth $113,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Maxeon Solar Technologies during the third quarter worth $204,000. Hedge funds and other institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Stock Down 4.2 %

MAXN opened at $5.50 on Tuesday. The firm has a market cap of $3.02 million, a PE ratio of -0.01 and a beta of 1.36. The business has a fifty day simple moving average of $23.37 and a 200-day simple moving average of $3,106.36. Maxeon Solar Technologies has a fifty-two week low of $4.98 and a fifty-two week high of $779.99.

About Maxeon Solar Technologies

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.