Northland Securities Increases Maxeon Solar Technologies (NASDAQ:MAXN) Price Target to $31.00

Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) had its price target upped by research analysts at Northland Securities from $24.00 to $31.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price target indicates a potential upside of 13.47% from the company’s current price.

Separately, Raymond James boosted their price objective on shares of Maxeon Solar Technologies from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.33.

Maxeon Solar Technologies Stock Up 1.2 %

Shares of NASDAQ MAXN opened at $27.32 on Wednesday. The stock has a market cap of $1.23 billion, a P/E ratio of -4.18 and a beta of 1.38. The firm has a 50 day moving average price of $19.80 and a 200 day moving average price of $20.29. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.82 and a current ratio of 1.35. Maxeon Solar Technologies has a 52-week low of $8.85 and a 52-week high of $28.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MAXN. Decade Renewable Partners LP acquired a new position in shares of Maxeon Solar Technologies in the fourth quarter valued at approximately $6,888,000. Marshall Wace LLP boosted its holdings in shares of Maxeon Solar Technologies by 1,419.9% in the third quarter. Marshall Wace LLP now owns 384,863 shares of the company’s stock valued at $9,148,000 after buying an additional 359,542 shares during the period. BlackRock Inc. boosted its holdings in shares of Maxeon Solar Technologies by 25.3% in the first quarter. BlackRock Inc. now owns 1,237,591 shares of the company’s stock valued at $17,920,000 after buying an additional 249,530 shares during the period. Samlyn Capital LLC acquired a new position in Maxeon Solar Technologies during the third quarter worth $4,680,000. Finally, Encompass Capital Advisors LLC boosted its holdings in Maxeon Solar Technologies by 782.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 173,005 shares of the company’s stock worth $2,778,000 after purchasing an additional 153,393 shares during the last quarter. Institutional investors and hedge funds own 56.08% of the company’s stock.

Maxeon Solar Technologies Company Profile

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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.