Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Update – MarketBeat
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Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,950,000 shares, an increase of 10.9% from the August 15th total of 2,660,000 shares. Based on an average daily trading volume, of 546,200 shares, the days-to-cover ratio is currently 5.4 days. Currently, 8.8% of the shares of the stock are sold short.
Hedge Funds Weigh In On Maxeon Solar Technologies
Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its position in Maxeon Solar Technologies by 332.0% during 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 acquired a new position in Maxeon Solar Technologies during the 1st quarter worth approximately $68,000. Advisor Group Holdings Inc. lifted its position 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 worth $108,000 after acquiring an additional 2,911 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Maxeon Solar Technologies during the 4th quarter worth approximately $150,000. Finally, Quantbot Technologies LP lifted its position 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 worth $165,000 after acquiring an additional 10,735 shares in the last quarter. 56.08% of the stock is owned by institutional investors and hedge funds.
Maxeon Solar Technologies Stock Up 3.6 %
Shares of NASDAQ:MAXN opened at $25.60 on Monday. The stock’s 50-day moving average price is $17.94 and its two-hundred day moving average price is $14.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.60. Maxeon Solar Technologies has a 12-month low of $7.48 and a 12-month high of $26.36.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last issued its quarterly earnings results on Thursday, August 18th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.66) by ($0.49). Maxeon Solar Technologies had a negative return on equity of 94.81% and a negative net margin of 31.64%. During the same period last year, the business earned ($1.99) earnings per share. As a group, equities analysts expect that Maxeon Solar Technologies will post -5.78 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Raymond James cut Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 16th. Bank of America lifted their price objective on Maxeon Solar Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group upgraded Maxeon Solar Technologies from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $27.00 in a research report on Wednesday, September 7th. Northland Securities began coverage on Maxeon Solar Technologies in a research report on Monday, August 8th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on Maxeon Solar Technologies from $14.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.60.
About Maxeon Solar Technologies
(Get Rating)
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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