Syon Capital LLC Makes New Investment in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)

Syon Capital LLC bought a new position in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,522 shares of the company’s stock, valued at approximately $240,000. Syon Capital LLC owned 0.06% of Maxeon Solar Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Maxeon Solar Technologies during the fourth quarter worth about $181,000. Soviero Asset Management LP acquired a new position in Maxeon Solar Technologies during the fourth quarter worth about $1,936,000. Tower Research Capital LLC TRC grew its position in Maxeon Solar Technologies by 93.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,338 shares of the company’s stock worth $81,000 after buying an additional 5,480 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Maxeon Solar Technologies during the fourth quarter worth about $196,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Maxeon Solar Technologies in the fourth quarter valued at approximately $108,000. 47.67% of the stock is currently owned by institutional investors and hedge funds.

Maxeon Solar Technologies Stock Performance

NASDAQ:MAXN opened at $1.11 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 1.36 and a debt-to-equity ratio of 83.32. The company has a market cap of $60.91 million, a P/E ratio of -0.14 and a beta of 1.59. Maxeon Solar Technologies, Ltd. has a fifty-two week low of $1.10 and a fifty-two week high of $29.41. The firm’s 50 day moving average is $2.18 and its two-hundred day moving average is $3.80.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($1.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.57). The company had revenue of $187.46 million for the quarter, compared to analysts’ expectations of $186.20 million. Maxeon Solar Technologies had a negative return on equity of 390.12% and a negative net margin of 37.92%. Analysts expect that Maxeon Solar Technologies, Ltd. will post -3.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAXN. Northland Capmk lowered shares of Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a research report on Friday, May 31st. Mizuho lowered their price target on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. The Goldman Sachs Group lowered shares of Maxeon Solar Technologies from a “buy” rating to a “sell” rating and lowered their price target for the company from $11.00 to $1.00 in a research report on Tuesday, June 4th. UBS Group lowered their price target on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating on the stock in a research report on Tuesday, April 9th. Finally, Roth Mkm decreased their target price on shares of Maxeon Solar Technologies from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.41.

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.