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

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating) have earned an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $17.20.

Several brokerages have recently weighed in on MAXN. Raymond James reduced their price target on Maxeon Solar Technologies from $23.00 to $18.00 in a research report on Friday, May 27th. Zacks Investment Research lowered Maxeon Solar Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th.

Shares of MAXN stock opened at $12.95 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.33 and a debt-to-equity ratio of 0.74. Maxeon Solar Technologies has a twelve month low of $7.48 and a twelve month high of $25.39. The company has a market cap of $441.98 million, a P/E ratio of -1.89 and a beta of 2.05. The business has a fifty day simple moving average of $12.40 and a 200 day simple moving average of $13.03.

Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last issued its quarterly earnings data on Thursday, May 26th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.30) by ($0.15). Maxeon Solar Technologies had a negative return on equity of 71.89% and a negative net margin of 32.68%. During the same period in the prior year, the company earned ($1.14) EPS. As a group, equities research analysts anticipate that Maxeon Solar Technologies will post -4.82 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in Maxeon Solar Technologies by 332.0% during the 1st quarter. Signaturefd LLC now owns 1,771 shares of the company’s stock valued at $26,000 after purchasing an additional 1,361 shares during the last quarter. US Bancorp DE boosted its stake in Maxeon Solar Technologies by 305.1% during the 3rd quarter. US Bancorp DE now owns 2,046 shares of the company’s stock valued at $36,000 after purchasing an additional 1,541 shares during the last quarter. Deutsche Bank AG boosted its stake in Maxeon Solar Technologies by 99.5% during the 4th quarter. Deutsche Bank AG now owns 3,357 shares of the company’s stock valued at $46,000 after purchasing an additional 1,674 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Maxeon Solar Technologies during the 1st quarter valued at $68,000. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Maxeon Solar Technologies by 23.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 4,818 shares of the company’s stock valued at $84,000 after buying an additional 910 shares during the period. Institutional investors own 40.55% of the company’s stock.

Maxeon Solar Technologies Company Profile (Get Rating)

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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