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

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been assigned an average recommendation of “Reduce” from the ten brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.41.

Several analysts have recently weighed in on the company. The Goldman Sachs Group lowered Maxeon Solar Technologies from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $11.00 to $1.00 in a report on Tuesday, June 4th. Raymond James downgraded Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 9th. Northland Capmk downgraded Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a research report on Friday, May 31st. Northland Securities downgraded Maxeon Solar Technologies from a “market perform” rating to an “under perform” rating and cut their target price for the stock from $7.00 to $0.50 in a research report on Friday, May 31st. Finally, UBS Group cut their target price 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.

Maxeon Solar Technologies Price Performance

Shares of NASDAQ:MAXN opened at $0.55 on Tuesday. Maxeon Solar Technologies has a 1-year low of $0.55 and a 1-year high of $29.41. The firm has a market capitalization of $30.12 million, a PE ratio of -0.07 and a beta of 1.47. The business’s 50 day moving average is $1.99 and its 200-day moving average is $3.57. 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 (NASDAQ:MAXN) last announced its quarterly earnings data 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 firm had revenue of $187.46 million for the quarter, compared to analyst estimates of $186.20 million. Sell-side analysts predict that Maxeon Solar Technologies will post -3.34 earnings per share for the current year.

Hedge Funds Weigh In On Maxeon Solar Technologies

Several institutional investors have recently bought and sold shares of MAXN. Barclays PLC raised its position in Maxeon Solar Technologies by 35.4% in the 3rd quarter. Barclays PLC now owns 18,511 shares of the company’s stock valued at $215,000 after purchasing an additional 4,840 shares during the last quarter. Swiss National Bank increased its stake in shares of Maxeon Solar Technologies by 8.9% in the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock valued at $876,000 after buying an additional 6,200 shares during the period. Invesco Ltd. increased its stake in shares of Maxeon Solar Technologies by 16.9% in the 3rd quarter. Invesco Ltd. now owns 1,634,731 shares of the company’s stock valued at $18,947,000 after buying an additional 235,823 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Maxeon Solar Technologies in the 3rd quarter valued at $429,000. Finally, Seven Eight Capital LP increased its stake in shares of Maxeon Solar Technologies by 55.1% in the 3rd quarter. Seven Eight Capital LP now owns 61,369 shares of the company’s stock valued at $711,000 after buying an additional 21,802 shares during the period. 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.