Stock Traders Purchase Large Volume of Maxeon Solar Technologies Call Options (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 53,841 call options on the stock. This represents an increase of approximately 336% compared to the average volume of 12,339 call options.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MAXN shares. Northland Capmk cut shares of Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, May 31st. UBS Group dropped their target price on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Roth Mkm dropped their target price on shares of Maxeon Solar Technologies from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Raymond James cut shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 9th. Finally, Mizuho dropped their target price on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Maxeon Solar Technologies has an average rating of “Hold” and an average price target of $4.41.

Maxeon Solar Technologies Stock Performance

Shares of Maxeon Solar Technologies stock opened at $1.11 on Thursday. The stock has a market cap of $60.92 million, a price-to-earnings ratio of -0.14 and a beta of 1.59. The firm’s 50-day moving average is $2.07 and its 200 day moving average is $3.68. Maxeon Solar Technologies has a 1 year low of $0.96 and a 1 year high of $29.41. The company has a debt-to-equity ratio of 83.32, a current ratio of 1.36 and a quick ratio of 0.56.

Maxeon Solar Technologies (NASDAQ:MAXN) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.57). The firm had revenue of $187.46 million during the quarter, compared to the consensus estimate of $186.20 million. Maxeon Solar Technologies had a negative return on equity of 390.12% and a negative net margin of 37.92%. Sell-side analysts anticipate that Maxeon Solar Technologies will post -3.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Maxeon Solar Technologies

A number of hedge funds have recently bought and sold shares of MAXN. Barclays PLC raised its position in Maxeon Solar Technologies by 35.4% in the 3rd quarter. Barclays PLC now owns 18,511 shares of the company’s stock worth $215,000 after buying an additional 4,840 shares during the last quarter. Swiss National Bank raised its position in Maxeon Solar Technologies by 8.9% in the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock worth $876,000 after buying an additional 6,200 shares during the last quarter. Invesco Ltd. raised its position in Maxeon Solar Technologies by 16.9% in the 3rd quarter. Invesco Ltd. now owns 1,634,731 shares of the company’s stock worth $18,947,000 after buying an additional 235,823 shares during the last quarter. Teza Capital Management LLC purchased a new position in Maxeon Solar Technologies in the 3rd quarter worth about $429,000. Finally, Seven Eight Capital LP raised its position in Maxeon Solar Technologies by 55.1% in the 3rd quarter. Seven Eight Capital LP now owns 61,369 shares of the company’s stock worth $711,000 after buying an additional 21,802 shares during the last quarter. Hedge funds and other institutional investors 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.