Maxeon Solar Technologies (NASDAQ:MAXN) Given New $4.00 Price Target at Mizuho

Maxeon Solar Technologies (NASDAQ:MAXN) had its target price decreased by equities researchers at Mizuho from $7.00 to $4.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 88.68% from the company’s previous close.

A number of other research analysts also recently commented on the company. Raymond James downgraded Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday. UBS Group lowered their target price on Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating for the company in a research note on Tuesday. The Goldman Sachs Group lowered their price target on shares of Maxeon Solar Technologies from $18.00 to $11.00 and set a “buy” rating for the company in a report on Monday, December 18th. Finally, Roth Mkm reiterated a “neutral” rating and set a $3.00 price target on shares of Maxeon Solar Technologies in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Maxeon Solar Technologies presently has an average rating of “Hold” and an average price target of $6.59.

Maxeon Solar Technologies Stock Down 9.8 %

NASDAQ MAXN opened at $2.12 on Thursday. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 2.19. Maxeon Solar Technologies has a 1-year low of $2.10 and a 1-year high of $38.91. The company has a 50 day moving average of $3.80 and a 200-day moving average of $5.50. The company has a market cap of $114.27 million, a price-to-earnings ratio of -0.59 and a beta of 1.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Maxeon Solar Technologies by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 1,160,313 shares of the company’s stock valued at $8,319,000 after purchasing an additional 144,142 shares during the period. Syon Capital LLC acquired a new stake in Maxeon Solar Technologies in the fourth quarter valued at $240,000. Virtu Financial LLC acquired a new stake in Maxeon Solar Technologies in the fourth quarter valued at $181,000. Barclays PLC increased its holdings in Maxeon Solar Technologies by 308.0% in the fourth quarter. Barclays PLC now owns 75,524 shares of the company’s stock valued at $542,000 after purchasing an additional 57,013 shares during the period. Finally, Vident Advisory LLC increased its holdings in Maxeon Solar Technologies by 48.4% in the fourth quarter. Vident Advisory LLC now owns 38,651 shares of the company’s stock valued at $277,000 after purchasing an additional 12,599 shares during the period. Institutional investors and hedge funds own 47.67% of the company’s stock.

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.