Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives Average Rating of “Strong Sell” from Analysts

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been assigned an average rating of “Strong Sell” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26,072.00.

Separately, Morgan Stanley reiterated an “underweight” rating and set a $4.00 target price on shares of Maxeon Solar Technologies in a research report on Friday, November 15th.

Maxeon Solar Technologies Trading Up 7.6 %

NASDAQ MAXN opened at $5.92 on Tuesday. The company has a market cap of $3.25 million, a price-to-earnings ratio of -0.01 and a beta of 1.36. The company has a 50 day moving average of $7.75 and a 200-day moving average of $2,766.31. Maxeon Solar Technologies has a 1-year low of $4.98 and a 1-year high of $779.99.

Institutional Investors Weigh In On Maxeon Solar Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Maxeon Solar Technologies by 275.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock worth $72,000 after buying an additional 62,054 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Maxeon Solar Technologies during the second quarter worth about $86,000. Vanguard Group Inc. lifted its holdings in shares of Maxeon Solar Technologies by 10.1% in the first quarter. Vanguard Group Inc. now owns 1,277,907 shares of the company’s stock worth $4,255,000 after acquiring an additional 117,594 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Maxeon Solar Technologies in the 2nd quarter valued at approximately $130,000. Finally, Cowen AND Company LLC bought a new stake in shares of Maxeon Solar Technologies during the 2nd quarter valued at approximately $760,000. 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.