Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives $4.41 Average Target Price from Analysts

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have received an average recommendation of “Reduce” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.41.

A number of research analysts have commented on the company. Raymond James lowered Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 9th. UBS Group lowered their target price on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Northland Securities downgraded shares of Maxeon Solar Technologies from a “market perform” rating to an “under perform” rating and reduced their price target for the stock from $7.00 to $0.50 in a research report on Friday, May 31st. Northland Capmk downgraded shares of Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a research report on Friday, May 31st. Finally, Mizuho cut 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.

Maxeon Solar Technologies Stock Down 2.8 %

Shares of NASDAQ:MAXN opened at $0.21 on Friday. The firm has a market cap of $11.25 million, a PE ratio of -0.03 and a beta of 1.47. The company has a fifty day simple moving average of $1.30 and a 200 day simple moving average of $2.83. The company has a current ratio of 1.36, a quick ratio of 0.56 and a debt-to-equity ratio of 83.32. Maxeon Solar Technologies has a 12-month low of $0.17 and a 12-month high of $28.45.

Maxeon Solar Technologies (NASDAQ:MAXN) last released its earnings results on Thursday, May 30th. The company reported ($1.59) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $187.46 million during the quarter, compared to the consensus estimate of $186.20 million. On average, equities research analysts anticipate that Maxeon Solar Technologies will post -2.81 EPS for the current fiscal year.

Institutional Trading of Maxeon Solar Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Paloma Partners Management Co acquired a new position in Maxeon Solar Technologies during the first quarter worth about $44,000. Vanguard Group Inc. raised its holdings in shares of Maxeon Solar Technologies by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 1,277,907 shares of the company’s stock worth $4,255,000 after purchasing an additional 117,594 shares in the last quarter. SG Americas Securities LLC lifted its stake in Maxeon Solar Technologies by 12.2% during the first quarter. SG Americas Securities LLC now owns 54,602 shares of the company’s stock valued at $182,000 after purchasing an additional 5,941 shares during the last quarter. Syon Capital LLC bought a new stake in Maxeon Solar Technologies during the fourth quarter worth approximately $240,000. Finally, Virtu Financial LLC acquired a new position in Maxeon Solar Technologies in the fourth quarter worth approximately $181,000. Institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Company Profile

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.