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

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has been given a consensus rating of “Strong Sell” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $26,072.00.

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

Institutional Investors Weigh In On Maxeon Solar Technologies

A number of large investors have recently bought and sold shares of MAXN. GSA Capital Partners LLP acquired a new position in shares of Maxeon Solar Technologies during the third quarter worth about $204,000. Verition Fund Management LLC bought a new position in shares of Maxeon Solar Technologies during the third quarter valued at approximately $113,000. Finally, XTX Topco Ltd grew its holdings in shares of Maxeon Solar Technologies by 343.8% during the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock valued at $65,000 after purchasing an additional 522,830 shares during the last quarter. Institutional investors and hedge funds own 47.67% of the company’s stock.

Maxeon Solar Technologies Trading Down 1.7 %

Shares of MAXN stock opened at $5.91 on Wednesday. The company has a market cap of $3.25 million, a price-to-earnings ratio of -0.01 and a beta of 1.35. The stock has a 50 day simple moving average of $7.31 and a 200-day simple moving average of $614.41. Maxeon Solar Technologies has a 12-month low of $4.98 and a 12-month 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, topping analysts’ consensus estimates 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%.

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.