Maxeon Solar Technologies (NASDAQ:MAXN) Trading Down 0.2% – What’s Next?

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s stock price was down 0.2% during trading on Wednesday . The company traded as low as $5.59 and last traded at $5.64. Approximately 187,249 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 300,662 shares. The stock had previously closed at $5.65.

Analysts Set New Price Targets

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. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, Maxeon Solar Technologies currently has a consensus rating of “Reduce” and an average price target of $26,072.00.

Maxeon Solar Technologies Stock Down 0.2 %

The company has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $374.33. The company has a market capitalization of $3.10 million, a price-to-earnings ratio of -0.01 and a beta of 1.33.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its earnings results on Thursday, December 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($11.50) by $11.03. Maxeon Solar Technologies had a negative net margin of 94.16% and a negative return on equity of 1,598.11%.

Hedge Funds Weigh In On Maxeon Solar Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC acquired a new stake in Maxeon Solar Technologies in the 4th quarter valued at $154,000. Linden Advisors LP purchased a new stake in shares of Maxeon Solar Technologies in the fourth quarter worth about $172,000. Aristides Capital LLC acquired a new stake in shares of Maxeon Solar Technologies in the fourth quarter valued at about $258,000. 683 Capital Management LLC purchased a new stake in shares of Maxeon Solar Technologies during the 4th quarter valued at about $610,000. Finally, XTX Topco Ltd lifted its position in Maxeon Solar Technologies by 343.8% during the 3rd quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after acquiring an additional 522,830 shares in the last quarter. Institutional investors and hedge funds own 47.67% of the company’s stock.

About Maxeon Solar Technologies

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.