Virtu Financial LLC Takes Position in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)

Virtu Financial LLC acquired a new stake in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,256 shares of the company’s stock, valued at approximately $181,000.

Other large investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. grew its holdings in Maxeon Solar Technologies by 37.9% during the 4th quarter. North Star Investment Management Corp. now owns 8,000 shares of the company’s stock worth $57,000 after acquiring an additional 2,200 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Maxeon Solar Technologies by 93.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,338 shares of the company’s stock worth $81,000 after purchasing an additional 5,480 shares during the period. DAVENPORT & Co LLC bought a new stake in shares of Maxeon Solar Technologies in the fourth quarter worth $100,000. Baader Bank Aktiengesellschaft acquired a new stake in Maxeon Solar Technologies in the fourth quarter valued at $108,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Maxeon Solar Technologies during the 4th quarter worth $196,000. Institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Stock Up 2.0 %

MAXN stock opened at $1.03 on Monday. The stock’s 50 day simple moving average is $2.11 and its 200 day simple moving average is $3.72. The company has a market cap of $56.52 million, a P/E ratio of -0.13 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, Ltd. has a fifty-two week low of $0.96 and a fifty-two week high of $29.41.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MAXN. Northland Capmk cut Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, May 31st. Raymond James lowered shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 9th. Northland Securities lowered shares of Maxeon Solar Technologies from a “market perform” rating to an “under perform” rating and reduced their price objective for the company from $7.00 to $0.50 in a research note on Friday, May 31st. Mizuho dropped their target price on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, Roth Mkm decreased their price target on Maxeon Solar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Maxeon Solar Technologies has a consensus rating of “Hold” and an average price target of $4.41.

About Maxeon Solar Technologies

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.