Maxeon Solar Technologies (NASDAQ:MAXN) Releases Quarterly Earnings Results, Beats Estimates By $1.21 EPS

Maxeon Solar Technologies (NASDAQ:MAXN) posted its quarterly earnings results on Monday. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.10) by $1.21, MarketWatch Earnings reports.

Shares of MAXN traded down $3.76 during trading hours on Wednesday, hitting $24.79. 62,909 shares of the stock were exchanged, compared to its average volume of 642,760. The stock’s 50-day moving average price is $34.23 and its two-hundred day moving average price is $29.14. Maxeon Solar Technologies has a 12-month low of $11.78 and a 12-month high of $57.97.

MAXN has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their target price on Maxeon Solar Technologies from $15.00 to $18.00 and gave the stock a “sell” rating in a research note on Monday, January 4th. Raymond James dropped their target price on Maxeon Solar Technologies from $60.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday. Roth Capital started coverage on Maxeon Solar Technologies in a research note on Tuesday, January 19th. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Zacks Investment Research lowered Maxeon Solar Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd.

Maxeon Solar Technologies Company Profile

Maxeon Solar Technologies, Ltd. designs, manufactures, and sells solar panels under the SunPower brand name worldwide. The company is headquartered in Singapore. Maxeon Solar Technologies, Ltd. operates independently of SunPower Corporation as of August 26, 2020.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

Receive News & Ratings for Maxeon Solar Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxeon Solar Technologies and related companies with MarketBeat.com's FREE daily email newsletter.