Maxeon Solar Technologies (MAXN) Set to Announce Earnings on Thursday – MarketBeat
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Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) is scheduled to announce its earnings results after the market closes on Thursday, November 10th. Analysts expect the company to announce earnings of ($1.47) per share for the quarter. Maxeon Solar Technologies has set its Q3 2022 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last released its earnings results on Thursday, August 18th. The company reported ($2.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.66) by ($0.49). The company had revenue of $238.08 million during the quarter, compared to analysts’ expectations of $222.13 million. Maxeon Solar Technologies had a negative net margin of 31.64% and a negative return on equity of 94.81%. During the same quarter in the previous year, the firm earned ($1.99) earnings per share. On average, analysts expect Maxeon Solar Technologies to post $-6 EPS for the current fiscal year and $-2 EPS for the next fiscal year.
Maxeon Solar Technologies Trading Down 7.4 %
NASDAQ:MAXN opened at $16.00 on Thursday. Maxeon Solar Technologies has a 12 month low of $7.48 and a 12 month high of $27.99. The company has a current ratio of 1.11, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The firm’s 50 day moving average is $20.77 and its 200 day moving average is $16.15. The stock has a market capitalization of $707.95 million, a PE ratio of -2.28 and a beta of 1.13.
Analysts Set New Price Targets
MAXN has been the topic of several research reports. Northland Securities assumed coverage on Maxeon Solar Technologies in a research note on Monday, August 8th. They issued an “outperform” rating and a $22.00 target price on the stock. Raymond James lowered shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 16th. Bank of America boosted their price target on shares of Maxeon Solar Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 16th. Morgan Stanley raised their price objective on shares of Maxeon Solar Technologies from $14.00 to $21.00 and gave the stock an “equal weight” rating in a report on Thursday, August 18th. Finally, The Goldman Sachs Group raised shares of Maxeon Solar Technologies from a “sell” rating to a “buy” rating and boosted their target price for the company from $9.00 to $27.00 in a report on Wednesday, September 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.60.
Institutional Trading of Maxeon Solar Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP boosted its holdings in Maxeon Solar Technologies by 1,609.4% in 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 during the period. Envestnet Asset Management Inc. raised its position in shares of Maxeon Solar Technologies by 13.6% in the first quarter. Envestnet Asset Management Inc. now owns 12,282 shares of the company’s stock worth $178,000 after buying an additional 1,468 shares in the last quarter. Ergoteles LLC bought a new stake in Maxeon Solar Technologies during the first quarter valued at $254,000. UBS Group AG grew its position in Maxeon Solar Technologies by 66.1% during the first quarter. UBS Group AG now owns 20,769 shares of the company’s stock worth $301,000 after buying an additional 8,264 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Maxeon Solar Technologies in the 2nd quarter worth about $341,000. Institutional investors own 56.08% of the company’s stock.
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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