Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Update

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,070,000 shares, a drop of 17.1% from the November 30th total of 1,290,000 shares. Based on an average trading volume of 1,320,000 shares, the short-interest ratio is currently 0.8 days. Currently, 20.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Maxeon Solar Technologies

Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of Maxeon Solar Technologies during the 3rd quarter worth approximately $204,000. Verition Fund Management LLC purchased a new position in Maxeon Solar Technologies during the third quarter valued at $113,000. Electron Capital Partners LLC grew its position in shares of Maxeon Solar Technologies by 806.5% in the second quarter. Electron Capital Partners LLC now owns 1,083,762 shares of the company’s stock valued at $924,000 after purchasing an additional 964,211 shares during the period. Cowen AND Company LLC purchased a new stake in shares of Maxeon Solar Technologies during the second quarter worth about $760,000. Finally, XTX Topco Ltd raised its position in shares of Maxeon Solar Technologies by 343.8% during the 3rd quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after purchasing an additional 522,830 shares during the last quarter. 47.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Morgan Stanley reiterated an “underweight” rating and issued a $4.00 target price on shares of Maxeon Solar Technologies in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, Maxeon Solar Technologies presently has a consensus rating of “Reduce” and an average target price of $26,072.00.

Maxeon Solar Technologies Price Performance

MAXN stock traded down $0.38 during trading on Monday, hitting $7.72. 416,284 shares of the company traded hands, compared to its average volume of 621,491. Maxeon Solar Technologies has a 1 year low of $4.98 and a 1 year high of $735.00. The company has a market cap of $4.24 million, a PE ratio of -0.01 and a beta of 1.36. The stock’s 50-day simple moving average is $8.06 and its 200 day simple moving average is $1,715.38.

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.