Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Given Average Rating of “Strong Sell” by Brokerages

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been given a consensus rating of “Strong Sell” by the eight ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26,072.00.

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

Maxeon Solar Technologies Stock Performance

Shares of MAXN stock opened at $6.45 on Friday. The stock has a fifty day moving average price of $8.19 and a 200 day moving average price of $1,048.33. The stock has a market cap of $3.54 million, a PE ratio of -0.01 and a beta of 1.35. Maxeon Solar Technologies has a 1 year low of $4.98 and a 1 year high of $602.00.

Institutional Trading of Maxeon Solar Technologies

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 purchasing an additional 62,054 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Maxeon Solar Technologies in the 2nd quarter worth approximately $86,000. XTX Topco Ltd acquired a new position in Maxeon Solar Technologies in the 2nd quarter valued at $130,000. Cowen AND Company LLC acquired a new stake in shares of Maxeon Solar Technologies during the second quarter worth $760,000. Finally, Electron Capital Partners LLC grew its position in shares of Maxeon Solar Technologies by 806.5% in the second quarter. Electron Capital Partners LLC now owns 1,083,762 shares of the company’s stock valued at $924,000 after purchasing an additional 964,211 shares during the period. 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.