Maytree Asset Management Ltd Has $678,000 Stake in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)

Maytree Asset Management Ltd cut its position in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) by 99.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,882 shares of the company’s stock after selling 8,898,496 shares during the quarter. Maxeon Solar Technologies accounts for about 1.5% of Maytree Asset Management Ltd’s portfolio, making the stock its 8th biggest holding. Maytree Asset Management Ltd owned about 0.16% of Maxeon Solar Technologies worth $678,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. XTX Topco Ltd grew its holdings in shares of Maxeon Solar Technologies by 343.8% during the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after buying an additional 522,830 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Maxeon Solar Technologies during the third quarter worth about $113,000. Finally, GSA Capital Partners LLP bought a new position in shares of Maxeon Solar Technologies during the third quarter worth about $204,000. 47.67% of the stock is currently owned by institutional investors.

Maxeon Solar Technologies Stock Down 0.2 %

MAXN stock opened at $5.64 on Thursday. The business has a 50 day moving average price of $6.54 and a two-hundred day moving average price of $374.33. The company has a market cap of $3.10 million, a price-to-earnings ratio of -0.01 and a beta of 1.33. Maxeon Solar Technologies, Ltd. has a twelve month low of $4.78 and a twelve month high of $532.00.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its quarterly earnings results on Thursday, December 5th. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($11.50) by $11.03. Maxeon Solar Technologies had a negative return on equity of 1,598.11% and a negative net margin of 94.16%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reiterated an “underweight” rating and set a $4.00 price objective on shares of Maxeon Solar Technologies in a report on Friday, November 15th. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $26,072.00.

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.