Maxeon Solar Technologies Sees Unusually High Options Volume (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXNGet Free Report) saw some unusual options trading on Thursday. Stock traders bought 63,554 put options on the stock. This is an increase of approximately 2,219% compared to the typical volume of 2,741 put options.

Analyst Ratings Changes

MAXN has been the subject of a number of recent analyst reports. UBS Group cut their price target on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Mizuho dropped their price objective on 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 target price on shares of Maxeon Solar Technologies in a research note on Tuesday, April 9th. Finally, Raymond James cut shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 9th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.59.

Read Our Latest Stock Report on Maxeon Solar Technologies

Institutional Investors Weigh In On Maxeon Solar Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group raised its position in Maxeon Solar Technologies by 40.8% during the third quarter. Schroder Investment Management Group now owns 1,749,061 shares of the company’s stock valued at $20,272,000 after purchasing an additional 506,633 shares in the last quarter. Soviero Asset Management LP bought a new stake in shares of Maxeon Solar Technologies during the 4th quarter valued at approximately $1,936,000. Nordea Investment Management AB boosted its position in Maxeon Solar Technologies by 86.2% in the third quarter. Nordea Investment Management AB now owns 546,492 shares of the company’s stock valued at $6,345,000 after buying an additional 252,981 shares in the last quarter. Invesco Ltd. grew its stake in shares of Maxeon Solar Technologies by 16.9% during the third quarter. Invesco Ltd. now owns 1,634,731 shares of the company’s stock worth $18,947,000 after buying an additional 235,823 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Maxeon Solar Technologies by 143.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 260,593 shares of the company’s stock worth $2,904,000 after buying an additional 153,664 shares in the last quarter. Institutional investors and hedge funds own 47.67% of the company’s stock.

Maxeon Solar Technologies Trading Down 34.7 %

Shares of NASDAQ:MAXN opened at $2.03 on Friday. Maxeon Solar Technologies has a 12-month low of $1.45 and a 12-month high of $32.58. The company’s 50 day moving average price is $2.57 and its two-hundred day moving average price is $4.12. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.88 and a current ratio of 1.62.

About Maxeon Solar Technologies

(Get Free Report)

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.

Further Reading

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