Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Free Report)’s share price gapped down prior to trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $43.00 to $37.00. The stock had previously closed at $22.28, but opened at $16.75. The Goldman Sachs Group currently has a buy rating on the stock. Maxeon Solar Technologies shares last traded at $15.98, with a volume of 2,514,725 shares changing hands.
MAXN has been the topic of a number of other reports. Bank of America dropped their price target on Maxeon Solar Technologies from $37.00 to $33.00 in a report on Friday, May 12th. 51job reiterated an “upgrade” rating on shares of Maxeon Solar Technologies in a report on Wednesday, June 14th. Raymond James dropped their price target on Maxeon Solar Technologies from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday. Northland Securities boosted their target price on Maxeon Solar Technologies from $31.00 to $40.00 in a research note on Wednesday, May 17th. Finally, Roth Capital upgraded Maxeon Solar Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Maxeon Solar Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.
Institutional Trading of Maxeon Solar Technologies
Several hedge funds and other institutional investors have recently made changes to their positions in MAXN. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Maxeon Solar Technologies in the 1st quarter worth approximately $27,000. Public Employees Retirement Association of Colorado purchased a new stake in Maxeon Solar Technologies during the 4th quarter valued at $31,000. Metropolitan Life Insurance Co NY purchased a new stake in Maxeon Solar Technologies during the 2nd quarter valued at $39,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Maxeon Solar Technologies by 19.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,048 shares of the company’s stock valued at $81,000 after purchasing an additional 830 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Maxeon Solar Technologies during the 2nd quarter valued at $91,000. Hedge funds and other institutional investors own 56.08% of the company’s stock.
Maxeon Solar Technologies Trading Down 32.0 %
The firm has a 50 day simple moving average of $26.40 and a 200 day simple moving average of $25.50. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 5.15. The firm has a market capitalization of $687.51 million, a PE ratio of -3.43 and a beta of 1.41.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Free Report) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.15. The company had revenue of $348.37 million during the quarter, compared to analyst estimates of $376.48 million. Maxeon Solar Technologies had a negative return on equity of 178.57% and a negative net margin of 16.27%. Equities analysts expect that Maxeon Solar Technologies, Ltd. will post 0.12 earnings per share for the current fiscal year.
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.