Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.59.

A number of brokerages have recently issued reports on MAXN. UBS Group dropped their price objective on Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating on the stock in a research note on Tuesday, April 9th. Raymond James downgraded Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 9th. Roth Mkm reissued a “neutral” rating and issued a $3.00 price objective on shares of Maxeon Solar Technologies in a research note on Tuesday, April 9th. Finally, Mizuho dropped their price objective on Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th.

Institutional Trading of Maxeon Solar Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Maxeon Solar Technologies during the first quarter valued at approximately $27,000. Exchange Traded Concepts LLC purchased a new stake in shares of Maxeon Solar Technologies during the third quarter valued at approximately $43,000. North Star Investment Management Corp. increased its position in shares of Maxeon Solar Technologies by 37.9% during the fourth quarter. North Star Investment Management Corp. now owns 8,000 shares of the company’s stock valued at $57,000 after acquiring an additional 2,200 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Maxeon Solar Technologies during the second quarter valued at approximately $59,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Maxeon Solar Technologies by 177.1% during the third quarter. Tower Research Capital LLC TRC now owns 5,858 shares of the company’s stock valued at $68,000 after acquiring an additional 3,744 shares during the last quarter. 47.67% of the stock is owned by hedge funds and other institutional investors.

Maxeon Solar Technologies Stock Up 7.9 %

Shares of NASDAQ:MAXN opened at $2.11 on Thursday. The company has a market capitalization of $113.73 million, a price-to-earnings ratio of -0.58 and a beta of 1.46. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.62 and a quick ratio of 0.88. The business’s 50-day moving average is $3.65 and its 200-day moving average is $5.25. Maxeon Solar Technologies has a 1 year low of $1.89 and a 1 year high of $38.91.

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.