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

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been assigned an average rating of “Strong Sell” from the eight brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $26,072.00.

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

Maxeon Solar Technologies Stock Down 4.8 %

MAXN stock opened at $8.25 on Friday. The stock has a market cap of $4.54 million, a price-to-earnings ratio of -0.01 and a beta of 1.42. Maxeon Solar Technologies has a 52-week low of $4.98 and a 52-week high of $779.99. The business has a fifty day moving average of $298.20 and a two-hundred day moving average of $6,366.59.

Maxeon Solar Technologies (NASDAQ:MAXN) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $300.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($11,200.00) by $11,500.00. The business had revenue of $184.22 million during the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that Maxeon Solar Technologies will post -27 EPS for the current year.

Institutional Trading of Maxeon Solar Technologies

A number of large investors have recently made changes to their positions in MAXN. XTX Topco Ltd grew its holdings in Maxeon Solar Technologies by 343.8% during the 3rd 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. Verition Fund Management LLC acquired a new position in shares of Maxeon Solar Technologies during the third quarter worth $113,000. GSA Capital Partners LLP purchased a new position in Maxeon Solar Technologies in the third quarter valued at $204,000. Electron Capital Partners LLC raised its stake in 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 buying an additional 964,211 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Maxeon Solar Technologies during the 2nd quarter worth about $86,000. 47.67% of the stock is currently owned by hedge funds and other institutional investors.

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.