Maxeon Solar Technologies (NASDAQ:MAXN) Trading Down 3.7%

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s stock price fell 3.7% during trading on Monday . The company traded as low as $0.20 and last traded at $0.21. 16,631,248 shares were traded during mid-day trading, a decline of 41% from the average session volume of 28,311,285 shares. The stock had previously closed at $0.21.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MAXN. The Goldman Sachs Group lowered shares of Maxeon Solar Technologies from a “buy” rating to a “sell” rating and decreased their price target for the stock from $11.00 to $1.00 in a report on Tuesday, June 4th. Northland Securities lowered shares of Maxeon Solar Technologies from a “market perform” rating to an “under perform” rating and decreased their price target for the stock from $7.00 to $0.50 in a report on Friday, May 31st. Northland Capmk cut shares of Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, May 31st. Roth Mkm cut their price objective on shares of Maxeon Solar Technologies from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Raymond James cut shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.41.

Maxeon Solar Technologies Stock Down 8.9 %

The firm has a market cap of $10.65 million, a PE ratio of -0.03 and a beta of 1.47. The company has a debt-to-equity ratio of 83.32, a quick ratio of 0.56 and a current ratio of 1.36. The company’s 50-day simple moving average is $1.19 and its two-hundred day simple moving average is $2.74.

Maxeon Solar Technologies (NASDAQ:MAXN) last posted its earnings results on Thursday, May 30th. The company reported ($1.59) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.57). Maxeon Solar Technologies had a negative return on equity of 390.12% and a negative net margin of 37.92%. The company had revenue of $187.46 million during the quarter, compared to analysts’ expectations of $186.20 million. On average, analysts predict that Maxeon Solar Technologies, Ltd. will post -2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Maxeon Solar Technologies by 93.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,338 shares of the company’s stock worth $81,000 after acquiring an additional 5,480 shares in the last quarter. SG Americas Securities LLC increased its stake in Maxeon Solar Technologies by 12.2% during the 1st quarter. SG Americas Securities LLC now owns 54,602 shares of the company’s stock valued at $182,000 after purchasing an additional 5,941 shares in the last quarter. Paloma Partners Management Co bought a new stake in Maxeon Solar Technologies during the 1st quarter valued at about $44,000. DAVENPORT & Co LLC bought a new stake in Maxeon Solar Technologies during the 4th quarter valued at about $100,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Maxeon Solar Technologies during the 4th quarter valued at about $108,000. 47.67% of the stock is currently owned by institutional investors.

About Maxeon Solar Technologies

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.