Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Given Consensus Rating of “Reduce” by Brokerages

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXNGet Free Report) has been given an average rating of “Reduce” by the ten ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $4.41.

MAXN has been the subject of several research reports. Mizuho decreased their target price on Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Roth Mkm lowered their price objective on shares of Maxeon Solar Technologies from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Northland Capmk lowered shares of Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, May 31st. Raymond James cut shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 9th. Finally, Northland Securities cut Maxeon Solar Technologies from a “market perform” rating to an “under perform” rating and dropped their price target for the company from $7.00 to $0.50 in a report on Friday, May 31st.

View Our Latest Stock Analysis on MAXN

Institutional Trading of Maxeon Solar Technologies

A number of hedge funds have recently modified their holdings of MAXN. North Star Investment Management Corp. boosted its holdings in shares of Maxeon Solar Technologies by 37.9% during the fourth quarter. North Star Investment Management Corp. now owns 8,000 shares of the company’s stock worth $57,000 after purchasing an additional 2,200 shares during the period. Barclays PLC lifted its position in Maxeon Solar Technologies by 35.4% in the 3rd quarter. Barclays PLC now owns 18,511 shares of the company’s stock worth $215,000 after buying an additional 4,840 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Maxeon Solar Technologies by 93.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,338 shares of the company’s stock valued at $81,000 after buying an additional 5,480 shares during the period. SG Americas Securities LLC grew its holdings in shares of Maxeon Solar Technologies by 12.2% during the 1st quarter. SG Americas Securities LLC now owns 54,602 shares of the company’s stock valued at $182,000 after acquiring an additional 5,941 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Maxeon Solar Technologies by 8.9% during the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock valued at $876,000 after acquiring an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Stock Performance

MAXN stock opened at $1.07 on Tuesday. The stock’s fifty day moving average is $2.09 and its two-hundred day moving average is $3.70. The stock has a market capitalization of $58.45 million, a price-to-earnings ratio of -0.14 and a beta of 1.59. The company has a debt-to-equity ratio of 83.32, a quick ratio of 0.56 and a current ratio of 1.36. Maxeon Solar Technologies has a 1 year low of $0.96 and a 1 year high of $29.41.

Maxeon Solar Technologies (NASDAQ:MAXNGet Free Report) last posted its earnings results on Thursday, May 30th. The company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.57). Maxeon Solar Technologies had a negative net margin of 37.92% and a negative return on equity of 390.12%. The firm had revenue of $187.46 million for the quarter, compared to analyst estimates of $186.20 million. On average, research analysts predict that Maxeon Solar Technologies will post -3.34 EPS for the current year.

About Maxeon Solar Technologies

(Get Free Report

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.

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Analyst Recommendations for Maxeon Solar Technologies (NASDAQ:MAXN)

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