Maxeon Solar Technologies (NASDAQ:MAXN) Shares to Reverse Split on Wednesday, October 9th

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) shares are set to reverse split on Wednesday, October 9th. The 1-100 reverse split was announced on Friday, September 20th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, October 8th.

Maxeon Solar Technologies Price Performance

Shares of MAXN traded down $0.01 during mid-day trading on Monday, reaching $0.08. 51,715,174 shares of the stock traded hands, compared to its average volume of 37,580,410. The company has a current ratio of 1.36, a quick ratio of 0.55 and a debt-to-equity ratio of 83.32. Maxeon Solar Technologies has a 1 year low of $0.08 and a 1 year high of $10.20. The company has a market cap of $4.32 million, a price-to-earnings ratio of -0.01 and a beta of 1.42. The firm has a fifty day moving average price of $0.12 and a 200 day moving average price of $1.20.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its earnings results on Tuesday, September 3rd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($1.12) by $1.15. Maxeon Solar Technologies had a negative return on equity of 1,598.11% and a negative net margin of 43.85%. The business had revenue of $184.22 million during the quarter, compared to analysts’ expectations of $175.35 million. As a group, equities research analysts predict that Maxeon Solar Technologies will post -2.81 earnings per share for the current year.

Institutional Investors Weigh In On Maxeon Solar Technologies

Several hedge funds have recently bought and sold shares of the stock. Paloma Partners Management Co bought a new position in shares of Maxeon Solar Technologies during the 1st quarter valued at about $44,000. Virtu Financial LLC bought a new position in Maxeon Solar Technologies during the fourth quarter valued at approximately $181,000. Syon Capital LLC purchased a new position in shares of Maxeon Solar Technologies during the fourth quarter worth approximately $240,000. SG Americas Securities LLC raised its stake in shares of Maxeon Solar Technologies by 12.2% during the first quarter. SG Americas Securities LLC now owns 54,602 shares of the company’s stock worth $182,000 after acquiring an additional 5,941 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 during the last quarter. 47.67% of the stock is currently owned by institutional investors.

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.