Maxeon Solar Technologies (NASDAQ:MAXN) Price Target Raised to $31.00

Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) had its price target upped by research analysts at Northland Securities from $24.00 to $31.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price target would indicate a potential upside of 13.47% from the stock’s current price.

Separately, Raymond James upped their price target on Maxeon Solar Technologies from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Maxeon Solar Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

Maxeon Solar Technologies Trading Up 1.2 %

Shares of MAXN opened at $27.32 on Wednesday. The business’s 50-day moving average price is $19.80 and its 200-day moving average price is $20.29. Maxeon Solar Technologies has a twelve month low of $8.85 and a twelve month high of $28.95. The stock has a market cap of $1.23 billion, a PE ratio of -4.18 and a beta of 1.38. The company has a quick ratio of 0.82, a current ratio of 1.35 and a debt-to-equity ratio of 2.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MAXN. Decade Renewable Partners LP purchased a new position in shares of Maxeon Solar Technologies during the fourth quarter worth about $6,888,000. Marshall Wace LLP grew its holdings in shares of Maxeon Solar Technologies by 1,419.9% during the third quarter. Marshall Wace LLP now owns 384,863 shares of the company’s stock worth $9,148,000 after purchasing an additional 359,542 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Maxeon Solar Technologies by 25.3% during the first quarter. BlackRock Inc. now owns 1,237,591 shares of the company’s stock worth $17,920,000 after purchasing an additional 249,530 shares in the last quarter. Samlyn Capital LLC purchased a new position in shares of Maxeon Solar Technologies during the third quarter worth about $4,680,000. Finally, Encompass Capital Advisors LLC grew its holdings in shares of Maxeon Solar Technologies by 782.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 173,005 shares of the company’s stock worth $2,778,000 after purchasing an additional 153,393 shares in the last quarter. Hedge funds and other institutional investors own 56.08% of the company’s stock.

Maxeon Solar Technologies Company Profile

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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.