Raymond James Lowers Maxeon Solar Technologies (NASDAQ:MAXN) Price Target to $10.00

Maxeon Solar Technologies (NASDAQ:MAXN) had its price objective dropped by stock analysts at Raymond James from $20.00 to $10.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 84.16% from the stock’s previous close.

Several other research firms have also recently commented on MAXN. Roth Capital cut Maxeon Solar Technologies from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 11th. Northland Securities lowered Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $25.00 to $7.00 in a report on Thursday. The Goldman Sachs Group decreased their price objective on Maxeon Solar Technologies from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, October 11th. Bank of America lowered Maxeon Solar Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $31.00 to $12.00 in a report on Monday, October 16th. Finally, Roth Mkm downgraded Maxeon Solar Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $10.00 in a research report on Wednesday, October 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.57.

Maxeon Solar Technologies Price Performance

Shares of MAXN opened at $5.43 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 1.40. Maxeon Solar Technologies has a 1 year low of $4.88 and a 1 year high of $38.91. The stock has a market cap of $285.24 million, a P/E ratio of -1.50 and a beta of 1.75. The stock’s 50-day moving average price is $9.12 and its two-hundred day moving average price is $19.15.

Maxeon Solar Technologies (NASDAQ:MAXN) last released its quarterly earnings data on Wednesday, November 15th. The company reported ($2.21) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($1.35). Maxeon Solar Technologies had a negative net margin of 13.56% and a negative return on equity of 125.37%. The business had revenue of $227.60 million for the quarter, compared to the consensus estimate of $226.85 million. During the same quarter last year, the firm earned ($1.09) EPS. The company’s revenue for the quarter was down 17.4% on a year-over-year basis. On average, equities analysts predict that Maxeon Solar Technologies will post -1.19 earnings per share for the current year.

Institutional Trading of Maxeon Solar Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in Maxeon Solar Technologies in the 1st quarter worth about $27,000. Metropolitan Life Insurance Co NY acquired a new position in Maxeon Solar Technologies in the 2nd quarter worth about $39,000. Exchange Traded Concepts LLC acquired a new position in Maxeon Solar Technologies in the 3rd quarter worth about $43,000. Ameritas Investment Partners Inc. acquired a new position in Maxeon Solar Technologies in the 2nd quarter worth about $59,000. Finally, Tower Research Capital LLC TRC increased its holdings in Maxeon Solar Technologies by 177.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,858 shares of the company’s stock worth $68,000 after purchasing an additional 3,744 shares in the last quarter.

Maxeon Solar Technologies Company Profile

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.