Maxeon Solar Technologies (NASDAQ:MAXN) Trading Down 0.4% – Here’s Why

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s stock price dropped 0.4% during mid-day trading on Friday . The company traded as low as $2.56 and last traded at $2.67. Approximately 69,215 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 88,811 shares. The stock had previously closed at $2.68.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Maxeon Solar Technologies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Maxeon Solar Technologies Stock Down 0.4%

The company has a market cap of $1.47 million, a price-to-earnings ratio of -0.02 and a beta of 1.41. The business’s fifty day simple moving average is $3.52 and its two-hundred day simple moving average is $3.57.

Institutional Investors Weigh In On Maxeon Solar Technologies

A hedge fund recently bought a new stake in Maxeon Solar Technologies stock. Mackenzie Financial Corp acquired a new stake in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,944 shares of the company’s stock, valued at approximately $37,000. Mackenzie Financial Corp owned approximately 1.99% of Maxeon Solar Technologies at the end of the most recent reporting period. 47.67% of the stock is owned by hedge funds and other institutional investors.

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.