Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives Consensus Rating of “Strong Sell” from Brokerages

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has earned an average rating of “Strong Sell” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $26,072.00.

Separately, Morgan Stanley reiterated an “underweight” rating and set a $4.00 price objective on shares of Maxeon Solar Technologies in a research note on Friday, November 15th.

Maxeon Solar Technologies Price Performance

Shares of MAXN opened at $5.78 on Wednesday. The firm has a market cap of $3.18 million, a PE ratio of -0.01 and a beta of 1.33. The stock’s fifty day moving average price is $7.09 and its two-hundred day moving average price is $530.01. Maxeon Solar Technologies has a 1 year low of $4.98 and a 1 year high of $602.00.

Maxeon Solar Technologies (NASDAQ:MAXN) last issued its earnings results on Thursday, December 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($11.50) by $11.03. Maxeon Solar Technologies had a negative return on equity of 1,598.11% and a negative net margin of 94.16%.

Hedge Funds Weigh In On Maxeon Solar Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in Maxeon Solar Technologies in the 3rd quarter worth about $204,000. Verition Fund Management LLC bought a new position in Maxeon Solar Technologies in the 3rd quarter worth about $113,000. Finally, XTX Topco Ltd increased its stake in Maxeon Solar Technologies by 343.8% in the 3rd quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after acquiring an additional 522,830 shares during the last quarter. 47.67% of the stock is currently 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.