Maxeon Solar Technologies (NASDAQ:MAXN) Shares to Reverse Split on Wednesday, October 9th

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXNFree Report) shares are scheduled to reverse split before the market opens on Wednesday, October 9th. The 1-100 reverse split was announced on Friday, September 20th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, October 8th.

Maxeon Solar Technologies Trading Down 6.4 %

Maxeon Solar Technologies stock traded down $0.01 during trading hours on Monday, reaching $0.08. The company had a trading volume of 51,715,174 shares, compared to its average volume of 37,580,410. The company has a debt-to-equity ratio of 83.32, a current ratio of 1.36 and a quick ratio of 0.55. Maxeon Solar Technologies has a 12-month low of $0.08 and a 12-month high of $10.20. The company has a 50-day moving average price of $0.12 and a 200 day moving average price of $1.20. The firm has a market cap of $4.32 million, a price-to-earnings ratio of -0.01 and a beta of 1.42.

Maxeon Solar Technologies (NASDAQ:MAXNGet Free Report) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.12) by $1.15. The business had revenue of $184.22 million for the quarter, compared to analyst estimates of $175.35 million. Maxeon Solar Technologies had a negative net margin of 43.85% and a negative return on equity of 1,598.11%. Equities analysts forecast that Maxeon Solar Technologies will post -2.81 earnings per share for the current year.

Hedge Funds Weigh In On Maxeon Solar Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Maxeon Solar Technologies during the fourth quarter valued at about $181,000. Syon Capital LLC purchased a new position in shares of Maxeon Solar Technologies during the 4th quarter worth approximately $240,000. SG Americas Securities LLC raised its position in shares of Maxeon Solar Technologies by 12.2% in the 1st quarter. SG Americas Securities LLC now owns 54,602 shares of the company’s stock worth $182,000 after acquiring an additional 5,941 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Maxeon Solar Technologies by 10.1% in the 1st 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 in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Maxeon Solar Technologies in the 1st quarter valued at approximately $44,000. Institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Company Profile

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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.

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