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

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have received an average recommendation of “Strong Sell” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26,072.00.

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

Institutional Trading of Maxeon Solar Technologies

A number of hedge funds have recently modified their holdings of MAXN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Maxeon Solar Technologies by 275.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock valued at $72,000 after acquiring an additional 62,054 shares during the period. Point72 DIFC Ltd acquired a new stake in Maxeon Solar Technologies during the 2nd quarter worth approximately $86,000. Vanguard Group Inc. boosted its stake in Maxeon Solar Technologies by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 1,277,907 shares of the company’s stock valued at $4,255,000 after purchasing an additional 117,594 shares during the period. XTX Topco Ltd acquired a new position in Maxeon Solar Technologies in the 2nd quarter valued at $130,000. Finally, Cowen AND Company LLC bought a new position in Maxeon Solar Technologies during the 2nd quarter worth $760,000. Institutional investors and hedge funds own 47.67% of the company’s stock.

Maxeon Solar Technologies Price Performance

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

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.