Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Sees Large … – MarketBeat
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Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 2,940,000 shares, a growth of 6.1% from the November 15th total of 2,770,000 shares. Based on an average trading volume of 655,200 shares, the days-to-cover ratio is presently 4.5 days. Currently, 12.9% of the company’s stock are short sold.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of MAXN. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Maxeon Solar Technologies in the third quarter worth $100,000. Quantbot Technologies LP raised its stake in shares of Maxeon Solar Technologies by 1,609.4% in the first quarter. Quantbot Technologies LP now owns 11,402 shares of the company’s stock worth $165,000 after purchasing an additional 10,735 shares during the last quarter. Keebeck Alpha LP purchased a new stake in Maxeon Solar Technologies during the first quarter valued at $172,000. Envestnet Asset Management Inc. increased its position in Maxeon Solar Technologies by 13.6% during the first quarter. Envestnet Asset Management Inc. now owns 12,282 shares of the company’s stock valued at $178,000 after acquiring an additional 1,468 shares during the last quarter. Finally, Clear Sky Advisers LLC purchased a new stake in Maxeon Solar Technologies during the first quarter valued at $200,000. Hedge funds and other institutional investors own 56.08% of the company’s stock.
Maxeon Solar Technologies Stock Down 3.3 %
MAXN stock opened at $21.08 on Friday. Maxeon Solar Technologies has a 1-year low of $7.48 and a 1-year high of $27.99. The business has a fifty day moving average price of $19.84 and a 200-day moving average price of $18.18. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.35 and a quick ratio of 0.82. The stock has a market capitalization of $948.94 million, a P/E ratio of -3.24 and a beta of 0.91.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. The Goldman Sachs Group raised Maxeon Solar Technologies from a “sell” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $27.00 in a report on Wednesday, September 7th. Bank of America boosted their target price on Maxeon Solar Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Maxeon Solar Technologies currently has a consensus 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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