Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Free Report) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 704,500 shares, a decline of 98.3% from the September 15th total of 42,660,000 shares. Based on an average daily trading volume, of 821,700 shares, the short-interest ratio is presently 0.9 days.
Maxeon Solar Technologies Stock Up 8,803.0 %
Shares of Maxeon Solar Technologies stock opened at $6.33 on Thursday. Maxeon Solar Technologies has a 12-month low of $6.30 and a 12-month high of $1,020.00. The company has a quick ratio of 0.55, a current ratio of 1.36 and a debt-to-equity ratio of 83.32. The stock has a 50 day moving average price of $0.24 and a two-hundred day moving average price of $1.19. The stock has a market capitalization of $347.37 million, a P/E ratio of -0.81 and a beta of 1.42.
Maxeon Solar Technologies’s stock is going to reverse split on Tuesday, December 31st. The 1-100 reverse split was announced on Friday, September 20th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.
Institutional Trading of Maxeon Solar Technologies
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Maxeon Solar Technologies by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 1,277,907 shares of the company’s stock valued at $4,255,000 after purchasing an additional 117,594 shares during the period. Electron Capital Partners LLC grew its position in Maxeon Solar Technologies by 806.5% during the second quarter. Electron Capital Partners LLC now owns 1,083,762 shares of the company’s stock worth $924,000 after buying an additional 964,211 shares in the last quarter. Cowen AND Company LLC acquired a new stake in Maxeon Solar Technologies during the second quarter worth about $760,000. XTX Topco Ltd bought a new position in Maxeon Solar Technologies during the second quarter valued at about $130,000. Finally, Point72 DIFC Ltd acquired a new position in Maxeon Solar Technologies in the 2nd quarter valued at approximately $86,000. Institutional investors own 47.67% of the company’s stock.
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.
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