Morgan Stanley Lowers Maxeon Solar Technologies (NASDAQ:MAXN) Price Target to $14.00

Maxeon Solar Technologies (NASDAQ:MAXN) had its price objective lowered by Morgan Stanley from $18.00 to $14.00 in a research report report published on Thursday morning, Analyst Price Targets reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research upgraded Maxeon Solar Technologies from a sell rating to a hold rating in a research report on Wednesday, December 8th. Bank of America upgraded Maxeon Solar Technologies from a neutral rating to a buy rating and upped their price target for the company from $22.00 to $23.00 in a research report on Friday, December 3rd. Finally, Raymond James lowered Maxeon Solar Technologies from a strong-buy rating to an outperform rating and lowered their price objective for the stock from $26.00 to $23.00 in a research report on Tuesday, October 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $22.83.

MAXN stock opened at $12.40 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.89. The business has a 50 day simple moving average of $16.91 and a 200-day simple moving average of $17.55. The firm has a market capitalization of $423.22 million, a PE ratio of -2.67 and a beta of 1.77. Maxeon Solar Technologies has a 1 year low of $11.66 and a 1 year high of $57.97.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its quarterly earnings results on Tuesday, November 16th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.07). The company had revenue of $220.49 million during the quarter, compared to analysts’ expectations of $231.00 million. Maxeon Solar Technologies had a negative net margin of 22.01% and a negative return on equity of 40.42%. During the same quarter last year, the company earned ($2.74) earnings per share. On average, equities research analysts expect that Maxeon Solar Technologies will post -5.97 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its position in Maxeon Solar Technologies by 681.2% in the third quarter. Signaturefd LLC now owns 1,492 shares of the company’s stock worth $26,000 after acquiring an additional 1,301 shares during the period. US Bancorp DE boosted its position in shares of Maxeon Solar Technologies by 305.1% during the third quarter. US Bancorp DE now owns 2,046 shares of the company’s stock worth $36,000 after buying an additional 1,541 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Maxeon Solar Technologies during the second quarter worth $54,000. Advisor Group Holdings Inc. boosted its position in shares of Maxeon Solar Technologies by 23.3% during the third quarter. Advisor Group Holdings Inc. now owns 4,818 shares of the company’s stock worth $84,000 after buying an additional 910 shares during the period. Finally, Keebeck Alpha LP purchased a new position in shares of Maxeon Solar Technologies during the third quarter worth $193,000. Institutional investors own 38.71% of the company’s stock.

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.

Featured Article: Is it better to buy a fund with a higher or lower NAV?

Analyst Recommendations for Maxeon Solar Technologies (NASDAQ:MAXN)

Receive News & Ratings for Maxeon Solar Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxeon Solar Technologies and related companies with MarketBeat.com's FREE daily email newsletter.