Quadrature Capital Ltd Has $753,000 Holdings in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)

Quadrature Capital Ltd cut its stake in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) by 29.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,035 shares of the company’s stock after selling 43,199 shares during the period. Quadrature Capital Ltd owned 0.19% of Maxeon Solar Technologies worth $753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Schroder Investment Management Group raised its position in shares of Maxeon Solar Technologies by 40.8% in the third quarter. Schroder Investment Management Group now owns 1,749,061 shares of the company’s stock valued at $20,272,000 after buying an additional 506,633 shares in the last quarter. Invesco Ltd. raised its position in shares of Maxeon Solar Technologies by 16.9% in the third quarter. Invesco Ltd. now owns 1,634,731 shares of the company’s stock valued at $18,947,000 after buying an additional 235,823 shares in the last quarter. Soviero Asset Management LP acquired a new stake in shares of Maxeon Solar Technologies in the fourth quarter valued at approximately $1,936,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Maxeon Solar Technologies by 380.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,720 shares of the company’s stock valued at $1,267,000 after buying an additional 139,945 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Maxeon Solar Technologies by 8.9% in the third quarter. Swiss National Bank now owns 75,600 shares of the company’s stock valued at $876,000 after buying an additional 6,200 shares in the last quarter. 47.67% of the stock is currently owned by institutional investors and hedge funds.

Maxeon Solar Technologies Stock Performance

NASDAQ MAXN opened at $1.03 on Friday. The firm’s fifty day moving average price is $2.11 and its two-hundred day moving average price is $3.74. The stock has a market cap of $56.53 million, a PE ratio of -0.13 and a beta of 1.59. Maxeon Solar Technologies, Ltd. has a fifty-two week low of $0.96 and a fifty-two week high of $29.41. The company has a debt-to-equity ratio of 83.32, a quick ratio of 0.56 and a current ratio of 1.36.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its 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 the consensus estimate of $186.20 million. Maxeon Solar Technologies had a negative return on equity of 390.12% and a negative net margin of 37.92%. On average, equities analysts expect that Maxeon Solar Technologies, Ltd. will post -3.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MAXN shares. The Goldman Sachs Group downgraded shares of Maxeon Solar Technologies from a “buy” rating to a “sell” rating and dropped their price target for the company from $11.00 to $1.00 in a research report on Tuesday, June 4th. Northland Securities downgraded shares of Maxeon Solar Technologies from a “market perform” rating to an “under perform” rating and lowered their price objective for the company from $7.00 to $0.50 in a research report on Friday, May 31st. Mizuho lowered their price objective on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. UBS Group lowered their price objective on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating for the company in a research report on Tuesday, April 9th. Finally, Roth Mkm lowered their price objective on shares of Maxeon Solar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company 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 stock. According to MarketBeat, Maxeon Solar Technologies currently 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.