Maxeon Solar Technologies (NASDAQ:MAXN) Reaches New 12-Month Low at $13.20

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $13.20 and last traded at $13.22, with a volume of 341111 shares. The stock had previously closed at $13.74.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MAXN. Morgan Stanley lowered their price target on shares of Maxeon Solar Technologies from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 6th. The Goldman Sachs Group lowered their price objective on Maxeon Solar Technologies from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Roth Mkm upgraded Maxeon Solar Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.00 to $40.00 in a research report on Wednesday, June 14th. 51job restated an “upgrade” rating on shares of Maxeon Solar Technologies in a research report on Wednesday, June 14th. Finally, Roth Capital raised shares of Maxeon Solar Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, June 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Maxeon Solar Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Maxeon Solar Technologies Trading Down 3.8 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.77 and a quick ratio of 1.12. The stock has a 50-day simple moving average of $19.69 and a 200-day simple moving average of $24.69.

Maxeon Solar Technologies (NASDAQ:MAXN) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. Maxeon Solar Technologies had a negative net margin of 8.03% and a negative return on equity of 77.32%. The business had revenue of $348.37 million during the quarter, compared to analysts’ expectations of $376.48 million. As a group, equities analysts anticipate that Maxeon Solar Technologies, Ltd. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maxeon Solar Technologies

Large investors have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Maxeon Solar Technologies by 3.0% during the first quarter. Invesco Ltd. now owns 3,011,818 shares of the company’s stock valued at $43,611,000 after purchasing an additional 87,838 shares in the last quarter. BlackRock Inc. boosted its position in Maxeon Solar Technologies by 35.2% during the 2nd quarter. BlackRock Inc. now owns 1,902,209 shares of the company’s stock worth $53,566,000 after buying an additional 494,825 shares during the period. Schroder Investment Management Group boosted its position in Maxeon Solar Technologies by 75.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,242,428 shares of the company’s stock worth $34,987,000 after buying an additional 534,945 shares during the period. Driehaus Capital Management LLC boosted its position in Maxeon Solar Technologies by 207.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,097,612 shares of the company’s stock worth $30,909,000 after buying an additional 740,252 shares during the period. Finally, State Street Corp lifted its holdings in shares of Maxeon Solar Technologies by 2.7% during the first quarter. State Street Corp now owns 909,932 shares of the company’s stock worth $24,150,000 after purchasing an additional 23,642 shares during the period.

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.