Maxeon Solar Technologies (NASDAQ:MAXN) Stock Price Up 7.7% – Defense World
Posted by admin on Aug 14th, 2022 
Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating)’s share price rose 7.7% on Friday . The company traded as high as $21.20 and last traded at $21.17. Approximately 2,346 shares changed hands during trading, a decline of 100% from the average daily volume of 599,846 shares. The stock had previously closed at $19.65.
MAXN has been the subject of a number of research reports. Northland Securities started coverage on shares of Maxeon Solar Technologies in a research note on Monday, August 8th. They issued an “outperform” rating and a $22.00 price target for the company. Raymond James decreased their price objective on shares of Maxeon Solar Technologies from $23.00 to $18.00 in a report on Friday, May 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.
The company has a current ratio of 1.33, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average is $13.92 and its 200-day moving average is $12.48. The company has a market capitalization of $969.96 million, a P/E ratio of -3.19 and a beta of 1.76.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.43) by ($0.02). The business had revenue of $223.08 million during the quarter, compared to the consensus estimate of $213.39 million. Maxeon Solar Technologies had a negative return on equity of 71.89% and a negative net margin of 32.68%. During the same quarter in the previous year, the business earned ($1.14) earnings per share. Equities analysts anticipate that Maxeon Solar Technologies, Ltd. will post -5.07 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Signaturefd LLC increased its stake in shares of Maxeon Solar Technologies by 332.0% in the 1st quarter. Signaturefd LLC now owns 1,771 shares of the company’s stock worth $26,000 after acquiring an additional 1,361 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Maxeon Solar Technologies during the 1st quarter valued at about $68,000. Advisor Group Holdings Inc. increased its stake in Maxeon Solar Technologies by 60.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,729 shares of the company’s stock valued at $108,000 after purchasing an additional 2,911 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Maxeon Solar Technologies during the 4th quarter valued at about $150,000. Finally, Quantbot Technologies LP increased its stake in Maxeon Solar Technologies by 1,609.4% during the 1st quarter. Quantbot Technologies LP now owns 11,402 shares of the company’s stock valued at $165,000 after purchasing an additional 10,735 shares in the last quarter. 40.55% of the stock is currently owned by institutional investors.
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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.
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