UBS Group Cuts Maxeon Solar Technologies (NASDAQ:MAXN) Price Target to $2.75

Maxeon Solar Technologies (NASDAQ:MAXN) had its target price decreased by UBS Group from $3.00 to $2.75 in a research note released on Tuesday, Benzinga reports. UBS Group currently has a sell rating on the stock.

MAXN has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on Maxeon Solar Technologies from $18.00 to $11.00 and set a buy rating for the company in a research note on Monday, December 18th. Mizuho reduced their price objective on Maxeon Solar Technologies from $8.00 to $7.00 and set a neutral rating on the stock in a report on Tuesday, January 30th. Roth Mkm restated a neutral rating and set a $3.00 price objective on shares of Maxeon Solar Technologies in a report on Tuesday. Finally, Raymond James downgraded Maxeon Solar Technologies from an outperform rating to a market perform rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $6.59.

Maxeon Solar Technologies Price Performance

Shares of MAXN stock opened at $2.35 on Tuesday. Maxeon Solar Technologies has a 52-week low of $2.30 and a 52-week high of $38.91. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.88 and a current ratio of 1.62. The firm has a market capitalization of $126.67 million, a P/E ratio of -0.65 and a beta of 1.46. The stock has a 50 day moving average price of $3.85 and a 200 day moving average price of $5.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MAXN. Vanguard Group Inc. increased its holdings in shares of Maxeon Solar Technologies by 366.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,016,171 shares of the company’s stock valued at $11,777,000 after acquiring an additional 798,545 shares during the period. Marshall Wace LLP lifted its position in Maxeon Solar Technologies by 889.6% during the 2nd quarter. Marshall Wace LLP now owns 634,698 shares of the company’s stock worth $17,873,000 after acquiring an additional 570,563 shares during the period. Two Sigma Investments LP lifted its position in Maxeon Solar Technologies by 1,153.9% during the 1st quarter. Two Sigma Investments LP now owns 576,084 shares of the company’s stock worth $15,289,000 after acquiring an additional 530,139 shares during the period. Schroder Investment Management Group lifted its position in Maxeon Solar Technologies by 40.8% during the 3rd quarter. Schroder Investment Management Group now owns 1,749,061 shares of the company’s stock worth $20,272,000 after acquiring an additional 506,633 shares during the period. Finally, BlackRock Inc. lifted 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 acquiring an additional 494,825 shares during the period. 47.67% of the stock is currently owned by hedge funds and other institutional investors.

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.