Brokerages Set Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Price Target at $6.97

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have received an average recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.59.

Several research analysts recently weighed in on MAXN shares. UBS Group dropped their price objective on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating for the company in a research report on Tuesday, April 9th. Roth Mkm reiterated a “neutral” rating and issued a $3.00 price objective on shares of Maxeon Solar Technologies in a research report on Tuesday, April 9th. Raymond James downgraded shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group lowered their price target on shares of Maxeon Solar Technologies from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, December 18th. Finally, Mizuho reduced their price objective on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday.

Maxeon Solar Technologies Price Performance

Shares of MAXN stock opened at $2.12 on Thursday. Maxeon Solar Technologies has a 52 week low of $2.10 and a 52 week high of $38.91. The stock has a market capitalization of $114.27 million, a PE ratio of -0.59 and a beta of 1.46. 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 stock’s fifty day moving average is $3.80 and its 200-day moving average is $5.46.

Hedge Funds Weigh In On Maxeon Solar Technologies

Several institutional investors and hedge funds have recently modified their holdings of MAXN. Vanguard Group Inc. increased its holdings in Maxeon Solar Technologies by 366.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,016,171 shares of the company’s stock worth $11,777,000 after purchasing an additional 798,545 shares in the last quarter. Marshall Wace LLP lifted its stake in Maxeon Solar Technologies by 889.6% in the 2nd quarter. Marshall Wace LLP now owns 634,698 shares of the company’s stock valued at $17,873,000 after acquiring an additional 570,563 shares in the last quarter. Two Sigma Investments LP boosted 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 last quarter. Schroder Investment Management Group grew its stake in shares of 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 in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Maxeon Solar Technologies by 35.2% in the second quarter. BlackRock Inc. now owns 1,902,209 shares of the company’s stock valued at $53,566,000 after purchasing an additional 494,825 shares during the last quarter. 47.67% of the stock is currently owned by institutional investors and hedge funds.

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.