Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Up 27.7% in February

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 985,500 shares, an increase of 27.7% from the January 31st total of 771,800 shares. Based on an average daily volume of 498,100 shares, the short-interest ratio is presently 2.0 days. Currently, 18.8% of the company’s shares are short sold.

Maxeon Solar Technologies Price Performance

Shares of Maxeon Solar Technologies stock traded down $0.09 on Thursday, hitting $3.15. 212,688 shares of the company’s stock traded hands, compared to its average volume of 671,121. The company has a market capitalization of $1.73 million, a price-to-earnings ratio of -0.01 and a beta of 1.38. The company has a fifty day moving average of $6.04 and a two-hundred day moving average of $272.01. Maxeon Solar Technologies has a one year low of $2.68 and a one year high of $420.00.

Maxeon Solar Technologies (NASDAQ:MAXN) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate 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%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reaffirmed an “underweight” rating and issued a $4.00 price objective on shares of Maxeon Solar Technologies in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $26,072.00.

Institutional Investors Weigh In On Maxeon Solar Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of MAXN. Cresset Asset Management LLC bought a new position in shares of Maxeon Solar Technologies during the 4th quarter worth about $154,000. Linden Advisors LP acquired a new position in Maxeon Solar Technologies during the 4th quarter worth approximately $172,000. Aristides Capital LLC bought a new position in Maxeon Solar Technologies in the fourth quarter worth approximately $258,000. 683 Capital Management LLC acquired a new stake in Maxeon Solar Technologies in the fourth quarter valued at approximately $610,000. Finally, XTX Topco Ltd increased its holdings in shares of Maxeon Solar Technologies by 343.8% during the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock valued at $65,000 after acquiring an additional 522,830 shares in the last quarter. 47.67% of the stock is 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.