Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Update

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,070,000 shares, a decrease of 17.1% from the November 30th total of 1,290,000 shares. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 20.4% of the company’s shares are sold short.

Institutional Trading of Maxeon Solar Technologies

A number of institutional investors have recently bought and sold shares of the business. XTX Topco Ltd raised its stake 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 purchasing an additional 522,830 shares during the last quarter. Verition Fund Management LLC purchased a new position in Maxeon Solar Technologies during the 3rd quarter worth $113,000. GSA Capital Partners LLP acquired a new stake in shares of Maxeon Solar Technologies in the 3rd quarter worth $204,000. Electron Capital Partners LLC boosted its holdings in shares of Maxeon Solar Technologies by 806.5% in the second quarter. Electron Capital Partners LLC now owns 1,083,762 shares of the company’s stock valued at $924,000 after acquiring an additional 964,211 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Maxeon Solar Technologies during the second quarter worth about $86,000. 47.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Morgan Stanley restated an “underweight” rating and set a $4.00 price target on shares of Maxeon Solar Technologies in a report on Friday, November 15th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $26,072.00.

Maxeon Solar Technologies Price Performance

Shares of MAXN traded down $0.38 during midday trading on Monday, reaching $7.72. The stock had a trading volume of 416,284 shares, compared to its average volume of 621,491. The company’s fifty day simple moving average is $8.06 and its two-hundred day simple moving average is $1,715.38. The company has a market cap of $4.24 million, a price-to-earnings ratio of -0.01 and a beta of 1.36. Maxeon Solar Technologies has a 1-year low of $4.98 and a 1-year high of $735.00.

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.