Short Interest in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Drops By 20.8%

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 780,200 shares, a drop of 20.8% from the February 13th total of 985,500 shares. Based on an average daily volume of 394,700 shares, the short-interest ratio is currently 2.0 days. Currently, 14.9% of the company’s shares are short sold.

Maxeon Solar Technologies Trading Up 18.6 %

MAXN stock opened at $3.69 on Monday. The company has a market capitalization of $2.03 million, a PE ratio of -0.01 and a beta of 1.38. The business’s fifty day moving average price is $5.37 and its 200 day moving average price is $179.97. Maxeon Solar Technologies has a 12-month low of $2.68 and a 12-month high of $410.00.

Institutional Trading of Maxeon Solar Technologies

Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd increased its holdings in Maxeon Solar Technologies by 343.8% during the 3rd quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after purchasing an additional 522,830 shares during the period. Verition Fund Management LLC acquired a new position in shares of Maxeon Solar Technologies during the third quarter worth about $113,000. Cresset Asset Management LLC purchased a new stake in shares of Maxeon Solar Technologies during the fourth quarter worth approximately $154,000. Linden Advisors LP acquired a new stake in Maxeon Solar Technologies in the fourth quarter valued at approximately $172,000. Finally, GSA Capital Partners LLP purchased a new position in Maxeon Solar Technologies in the third quarter worth approximately $204,000. 47.67% of the stock is currently owned by institutional investors and hedge funds.

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.