Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Given Average Rating of “Strong Sell” by Analysts

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have been assigned a consensus recommendation of “Strong Sell” from the eight analysts that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $26,072.00.

Separately, Morgan Stanley reiterated an “underweight” rating and set a $4.00 target price on shares of Maxeon Solar Technologies in a research report on Friday, November 15th.

Institutional Investors Weigh In On Maxeon Solar Technologies

A number of large investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new stake in shares of Maxeon Solar Technologies in the third quarter worth $204,000. Verition Fund Management LLC purchased a new stake in Maxeon Solar Technologies during the 3rd quarter valued at about $113,000. Electron Capital Partners LLC increased its stake in Maxeon Solar Technologies by 806.5% during the 2nd quarter. Electron Capital Partners LLC now owns 1,083,762 shares of the company’s stock valued at $924,000 after purchasing an additional 964,211 shares in the last quarter. Cowen AND Company LLC purchased a new position in Maxeon Solar Technologies in the second quarter worth about $760,000. Finally, XTX Topco Ltd lifted its stake in shares of Maxeon Solar Technologies by 343.8% in the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after buying an additional 522,830 shares in the last quarter. Institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Trading Down 1.8 %

Shares of NASDAQ:MAXN opened at $8.34 on Friday. The company has a 50 day moving average of $8.24 and a 200 day moving average of $1,497.68. The stock has a market cap of $4.58 million, a P/E ratio of -0.02 and a beta of 1.36. Maxeon Solar Technologies has a 12 month low of $4.98 and a 12 month high of $643.99.

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.