Maxeon Solar Technologies Target of Unusually High Options Trading (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the target of some unusual options trading on Friday. Investors bought 4,454 call options on the company. This is an increase of approximately 85% compared to the average daily volume of 2,413 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Raymond James downgraded Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 9th. UBS Group reduced their price objective on Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating on the stock in a research note on Tuesday, April 9th. Roth Mkm reiterated a “neutral” rating and issued a $3.00 price target on shares of Maxeon Solar Technologies in a research note on Tuesday, April 9th. Finally, Mizuho cut their price target on Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Maxeon Solar Technologies currently has a consensus rating of “Hold” and a consensus target price of $6.59.

Maxeon Solar Technologies Trading Up 17.4 %

Shares of NASDAQ MAXN opened at $2.09 on Friday. The stock’s 50 day moving average price is $3.16 and its two-hundred day moving average price is $4.85. Maxeon Solar Technologies has a 52-week low of $1.71 and a 52-week high of $38.91. The stock has a market capitalization of $112.65 million, a P/E ratio of -0.58 and a beta of 1.46. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 2.19.

Hedge Funds Weigh In On Maxeon Solar Technologies

Several institutional investors have recently made changes to their positions in MAXN. Exchange Traded Concepts LLC bought a new position in shares of Maxeon Solar Technologies during the third quarter valued at approximately $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Maxeon Solar Technologies by 45.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,952 shares of the company’s stock valued at $417,000 after purchasing an additional 11,165 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Maxeon Solar Technologies by 16.9% in the third quarter. Bank of New York Mellon Corp now owns 78,657 shares of the company’s stock worth $912,000 after acquiring an additional 11,355 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Maxeon Solar Technologies by 4.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,598 shares of the company’s stock worth $656,000 after acquiring an additional 2,261 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Maxeon Solar Technologies by 18.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 197,866 shares of the company’s stock worth $2,293,000 after acquiring an additional 30,400 shares during the last quarter. 47.67% of the stock is owned by 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.