Maxeon Solar Technologies (NASDAQ:MAXN) Given New $18.00 Price Target at Raymond James

Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) had its price objective dropped by investment analysts at Raymond James from $23.00 to $18.00 in a research note issued to investors on Friday, The Fly reports. Raymond James’ price target indicates a potential upside of 49.50% from the stock’s previous close.

Separately, Zacks Investment Research lowered Maxeon Solar Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, March 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.50.

Shares of Maxeon Solar Technologies stock opened at $12.04 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.27 and a debt-to-equity ratio of 0.41. Maxeon Solar Technologies has a twelve month low of $7.48 and a twelve month high of $25.39. The company has a market cap of $410.94 million, a price-to-earnings ratio of -1.84 and a beta of 2.06. The company’s 50 day moving average is $12.55 and its 200 day moving average is $13.45.

Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last issued its earnings results on Thursday, May 26th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.15). Maxeon Solar Technologies had a negative net margin of 32.49% and a negative return on equity of 60.80%. During the same period in the prior year, the company posted ($1.14) EPS. Sell-side analysts expect that Maxeon Solar Technologies will post -4.6 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in MAXN. Shelton Capital Management grew its holdings in shares of Maxeon Solar Technologies by 24.8% during the third quarter. Shelton Capital Management now owns 262,000 shares of the company’s stock worth $4,619,000 after purchasing an additional 52,000 shares during the last quarter. Marshall Wace LLP grew its stake in Maxeon Solar Technologies by 54.1% during the 3rd quarter. Marshall Wace LLP now owns 43,721 shares of the company’s stock worth $771,000 after buying an additional 15,358 shares during the last quarter. Green Alpha Advisors LLC grew its stake in Maxeon Solar Technologies by 13.5% during the 4th quarter. Green Alpha Advisors LLC now owns 65,138 shares of the company’s stock worth $905,000 after buying an additional 7,769 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in Maxeon Solar Technologies during the 3rd quarter worth approximately $336,000. Finally, Carlson Capital L P purchased a new position in shares of Maxeon Solar Technologies in the 3rd quarter valued at approximately $1,234,000. 40.55% of the stock is owned by institutional investors and hedge funds.

Maxeon Solar Technologies Company Profile (Get Rating)

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.

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