Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Up 53.1% in October

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 1,520,000 shares, a growth of 53.1% from the October 15th total of 992,700 shares. Approximately 33.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Investors Weigh In On Maxeon Solar Technologies

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings 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 buying an additional 5,941 shares during the period. Paloma Partners Management Co bought a new position in shares of Maxeon Solar Technologies in the 1st quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Maxeon Solar Technologies by 275.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock worth $72,000 after acquiring an additional 62,054 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Maxeon Solar Technologies during the 2nd quarter worth $86,000. Finally, Vanguard Group Inc. grew its stake in Maxeon Solar Technologies by 10.1% in the first 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 last quarter. Institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Price Performance

MAXN stock traded down $1.95 during mid-day trading on Thursday, reaching $11.57. The company had a trading volume of 1,563,748 shares, compared to its average volume of 592,630. The company has a market capitalization of $6.36 million, a PE ratio of -0.01 and a beta of 1.42. The firm has a 50 day moving average of $398.03 and a 200 day moving average of $7,144.29. Maxeon Solar Technologies has a 12 month low of $4.98 and a 12 month high of $779.99.

Maxeon Solar Technologies (NASDAQ:MAXN) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $300.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($11,200.00) by $11,500.00. The company had revenue of $184.22 million for the quarter, compared to analysts’ expectations of $175.35 million. Maxeon Solar Technologies had a negative return on equity of 1,598.11% and a negative net margin of 43.85%. Analysts anticipate that Maxeon Solar Technologies will post -27 EPS for the current year.

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.