Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives $26,072.00 Average PT from Brokerages

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has received an average recommendation of “Strong Sell” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $26,072.00.

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

Institutional Investors Weigh In On Maxeon Solar Technologies

Several institutional investors have recently bought and sold shares of MAXN. GSA Capital Partners LLP purchased a new stake in Maxeon Solar Technologies during the 3rd quarter valued at about $204,000. Verition Fund Management LLC purchased a new stake in Maxeon Solar Technologies during the 3rd quarter valued at about $113,000. Finally, XTX Topco Ltd lifted its holdings in Maxeon Solar Technologies by 343.8% in the 3rd quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after buying an additional 522,830 shares during the period. 47.67% of the stock is currently owned by hedge funds and other institutional investors.

Maxeon Solar Technologies Trading Up 1.8 %

MAXN opened at $5.78 on Wednesday. The stock has a 50-day moving average price of $7.09 and a 200-day moving average price of $530.01. Maxeon Solar Technologies has a 12-month low of $4.98 and a 12-month high of $602.00. The stock has a market capitalization of $3.18 million, a P/E ratio of -0.01 and a beta of 1.33.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its quarterly earnings data on Thursday, December 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($11.50) by $11.03. Maxeon Solar Technologies had a negative return on equity of 1,598.11% and a negative net margin of 94.16%.

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.