Maxeon Solar Technologies (MAXN) to Release Quarterly Earnings on Thursday – MarketBeat
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Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) will announce its earnings results after the market closes on Thursday, August 18th. Analysts expect the company to announce earnings of ($1.66) per share for the quarter. Maxeon Solar Technologies has set its Q2 2022 guidance at EPS.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last posted its quarterly earnings results on Thursday, May 26th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.43) by ($0.02). The company had revenue of $223.08 million during the quarter, compared to analysts’ expectations of $213.39 million. Maxeon Solar Technologies had a negative net margin of 32.68% and a negative return on equity of 71.89%. During the same quarter last year, the company earned ($1.14) earnings per share. On average, analysts expect Maxeon Solar Technologies to post $-5 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Maxeon Solar Technologies Trading Up 11.6 %
Shares of Maxeon Solar Technologies stock opened at $21.92 on Monday. The firm has a market capitalization of $969.89 million, a price-to-earnings ratio of -3.19 and a beta of 1.76. Maxeon Solar Technologies has a fifty-two week low of $7.48 and a fifty-two week high of $25.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 1.33. The stock has a 50 day moving average of $13.92 and a 200 day moving average of $12.50.
Hedge Funds Weigh In On Maxeon Solar Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP lifted its position in shares of 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 acquiring an additional 10,735 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Maxeon Solar Technologies by 13.6% during the 1st 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 period. Ergoteles LLC acquired a new stake in shares of Maxeon Solar Technologies during the 1st quarter valued at approximately $254,000. UBS Group AG raised its position in shares of Maxeon Solar Technologies by 66.1% during the 1st quarter. UBS Group AG now owns 20,769 shares of the company’s stock worth $301,000 after purchasing an additional 8,264 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Maxeon Solar Technologies by 78.1% during the 1st quarter. California State Teachers Retirement System now owns 25,843 shares of the company’s stock worth $374,000 after purchasing an additional 11,333 shares during the last quarter. Hedge funds and other institutional investors own 40.55% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on MAXN shares. Raymond James lowered their price target on Maxeon Solar Technologies from $23.00 to $18.00 in a research report on Friday, May 27th. Northland Securities initiated coverage on Maxeon Solar Technologies in a research note on Monday, August 8th. They issued an “outperform” rating and a $22.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.80.
Maxeon Solar Technologies Company Profile
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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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