Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives Consensus Recommendation of “Hold” from Analysts

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has earned a consensus rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $6.59.

A number of analysts recently issued reports on the company. Mizuho lowered their target price on Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. UBS Group cut their price objective on Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating for the company in a research report on Tuesday, April 9th. Raymond James lowered Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 9th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $3.00 price objective on shares of Maxeon Solar Technologies in a report on Tuesday, April 9th.

Maxeon Solar Technologies Stock Performance

MAXN stock opened at $2.36 on Monday. The firm has a market cap of $127.20 million, a PE ratio of -0.65 and a beta of 1.62. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 2.19. The business’s 50-day moving average price is $2.90 and its two-hundred day moving average price is $4.58. Maxeon Solar Technologies has a 1-year low of $1.71 and a 1-year high of $38.91.

Hedge Funds Weigh In On Maxeon Solar Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group lifted its holdings in shares of Maxeon Solar Technologies by 40.8% during the 3rd quarter. Schroder Investment Management Group now owns 1,749,061 shares of the company’s stock valued at $20,272,000 after buying an additional 506,633 shares during the period. Soviero Asset Management LP bought a new stake in shares of Maxeon Solar Technologies during the 4th quarter valued at $1,936,000. Nordea Investment Management AB raised its holdings in Maxeon Solar Technologies by 86.2% in the 3rd quarter. Nordea Investment Management AB now owns 546,492 shares of the company’s stock worth $6,345,000 after purchasing an additional 252,981 shares during the period. Invesco Ltd. grew its holdings in Maxeon Solar Technologies by 16.9% during the third quarter. Invesco Ltd. now owns 1,634,731 shares of the company’s stock valued at $18,947,000 after purchasing an additional 235,823 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Maxeon Solar Technologies by 143.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 260,593 shares of the company’s stock worth $2,904,000 after buying an additional 153,664 shares during the period. 47.67% of the stock is currently owned by institutional investors.

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.