Maxeon Solar Technologies (NASDAQ:MAXN) Trading Up 2.4% on Analyst Upgrade – MarketBeat

Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating)’s stock price traded up 2.4% during mid-day trading on Friday after Bank of America raised their price target on the stock from $25.00 to $30.00. Bank of America currently has a buy rating on the stock. Maxeon Solar Technologies traded as high as $25.33 and last traded at $25.32. 23,706 shares were traded during mid-day trading, a decline of 96% from the average session volume of 599,290 shares. The stock had previously closed at $24.72.
A number of other analysts also recently weighed in on the company. Northland Securities began coverage on Maxeon Solar Technologies in a research report on Monday, August 8th. They issued an “outperform” rating and a $22.00 target price for the company. The Goldman Sachs Group upgraded shares of Maxeon Solar Technologies from a “sell” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $27.00 in a research report on Wednesday, September 7th. 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. Finally, Morgan Stanley increased their target price on Maxeon Solar Technologies from $14.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.60.

Institutional Trading of Maxeon Solar Technologies

Several large investors have recently bought and sold shares of MAXN. Signaturefd LLC lifted its position in Maxeon Solar Technologies by 332.0% during the first quarter. Signaturefd LLC now owns 1,771 shares of the company’s stock valued at $26,000 after buying an additional 1,361 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of 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 purchasing an additional 1,468 shares in the last quarter. Citigroup Inc. raised its stake in Maxeon Solar Technologies by 2.9% during the fourth quarter. Citigroup Inc. now owns 74,190 shares of the company’s stock valued at $1,031,000 after buying an additional 2,115 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in Maxeon Solar Technologies by 60.4% in the fourth 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Maxeon Solar Technologies in the 1st quarter worth about $68,000. 56.08% of the stock is owned by institutional investors.

Maxeon Solar Technologies Stock Up 1.9 %

The company’s 50-day moving average is $17.72 and its 200 day moving average is $14.35. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 1.11. The company has a market capitalization of $1.11 billion, a PE ratio of -3.49 and a beta of 1.58.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Rating) last announced 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 net margin of 31.64% and a negative return on equity of 94.81%. During the same period in the prior year, the company earned ($1.99) EPS. As a group, analysts anticipate that Maxeon Solar Technologies, Ltd. will post -5.78 EPS for the current year.

Maxeon Solar Technologies Company Profile

(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.

Recommended Stories

• Get a free copy of the StockNews.com research report on Maxeon Solar Technologies (MAXN)
• 3 Banks Worth Considering For Q4
• Stock Market: 3 Islands Of Strength In A Sea Of Red
• MarketBeat: Week in Review 9/12 – 9/16
• Is There a Cure for What is Ailing Teladoc Stock?
• No One Told These 3 Stocks It’s a Down Week

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Maxeon Solar Technologies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Maxeon Solar Technologies wasn’t on the list.
While Maxeon Solar Technologies currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
ETF portfolio manager, Dave Gilreath offers a perspective on “dividend achievers” and why these deserve a role in your portfolio
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.
Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.
Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.
As Featured By:
MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.
Twitter Facebook StockTwits Financial Juice YouTube

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.

source