Traders Purchase Large Volume of Maxeon Solar Technologies Call Options (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 4,454 call options on the stock. This represents an increase of approximately 85% compared to the average volume of 2,413 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MAXN. Exchange Traded Concepts LLC bought a new position in shares of Maxeon Solar Technologies in the third quarter valued at approximately $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Maxeon Solar Technologies by 45.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,952 shares of the company’s stock valued at $417,000 after acquiring an additional 11,165 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Maxeon Solar Technologies by 16.9% in the third quarter. Bank of New York Mellon Corp now owns 78,657 shares of the company’s stock valued at $912,000 after acquiring an additional 11,355 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Maxeon Solar Technologies by 4.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,598 shares of the company’s stock valued at $656,000 after acquiring an additional 2,261 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Maxeon Solar Technologies by 18.2% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 197,866 shares of the company’s stock valued at $2,293,000 after acquiring an additional 30,400 shares in the last quarter. Institutional investors own 47.67% of the company’s stock.

Analysts Set New Price Targets

MAXN has been the topic of several research reports. Raymond James lowered shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 9th. Mizuho dropped their price objective on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Roth Mkm reiterated a “neutral” rating and set a $3.00 price objective on shares of Maxeon Solar Technologies in a research note on Tuesday, April 9th. Finally, UBS Group dropped their price objective on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating on the stock in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Maxeon Solar Technologies currently has a consensus rating of “Hold” and a consensus price target of $6.59.

Maxeon Solar Technologies Price Performance

NASDAQ MAXN opened at $2.09 on Friday. Maxeon Solar Technologies has a 52 week low of $1.71 and a 52 week high of $38.91. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 2.19. The stock has a market cap of $112.65 million, a price-to-earnings ratio of -0.58 and a beta of 1.46. The company has a 50-day moving average price of $3.16 and a two-hundred day moving average price of $4.89.

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.