Morgan Stanley Lowers Maxeon Solar Technologies (NASDAQ:MAXN) Price Target to $14.00

Maxeon Solar Technologies (NASDAQ:MAXN) had its target price lowered by Morgan Stanley from $18.00 to $14.00 in a research note issued to investors on Thursday, Analyst Price Targets reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 12.90% from the company’s current price.

A number of other equities analysts have also recently commented on MAXN. Bank of America raised Maxeon Solar Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.00 to $23.00 in a report on Friday, December 3rd. Zacks Investment Research raised Maxeon Solar Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, December 8th. Finally, Raymond James lowered Maxeon Solar Technologies from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $26.00 to $23.00 in a research report on Tuesday, October 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.83.

NASDAQ MAXN opened at $12.40 on Thursday. The stock has a market capitalization of $423.22 million, a price-to-earnings ratio of -2.67 and a beta of 1.77. Maxeon Solar Technologies has a twelve month low of $11.66 and a twelve month high of $57.97. The company has a current ratio of 1.46, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $16.91 and a 200 day moving average of $17.55.

Maxeon Solar Technologies (NASDAQ:MAXN) last released its quarterly earnings results on Tuesday, November 16th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.07). Maxeon Solar Technologies had a negative return on equity of 40.42% and a negative net margin of 22.01%. The business had revenue of $220.49 million during the quarter, compared to analyst estimates of $231.00 million. During the same period in the previous year, the company posted ($2.74) EPS. Equities analysts predict that Maxeon Solar Technologies will post -5.97 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its position in Maxeon Solar Technologies by 681.2% in the third quarter. Signaturefd LLC now owns 1,492 shares of the company’s stock worth $26,000 after acquiring an additional 1,301 shares during the period. US Bancorp DE grew its position in Maxeon Solar Technologies by 305.1% in the third quarter. US Bancorp DE now owns 2,046 shares of the company’s stock worth $36,000 after acquiring an additional 1,541 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Maxeon Solar Technologies in the second quarter worth approximately $54,000. Advisor Group Holdings Inc. grew its position in Maxeon Solar Technologies by 23.3% in the third quarter. Advisor Group Holdings Inc. now owns 4,818 shares of the company’s stock worth $84,000 after acquiring an additional 910 shares during the period. Finally, Keebeck Alpha LP purchased a new position in Maxeon Solar Technologies in the third quarter worth approximately $193,000. Institutional investors own 38.71% 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.

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Analyst Recommendations for Maxeon Solar Technologies (NASDAQ:MAXN)

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