Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Given Average Recommendation of “Reduce” by Brokerages

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has been assigned a consensus rating of “Reduce” from the ten research firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $4.41.

A number of equities research analysts recently issued reports on the company. Northland Capmk downgraded Maxeon Solar Technologies from a “hold” rating to a “strong sell” rating in a research report on Friday, May 31st. Mizuho reduced their price target on Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Raymond James downgraded Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 9th. Northland Securities downgraded Maxeon Solar Technologies from a “market perform” rating to an “under perform” rating and reduced their price target for the stock from $7.00 to $0.50 in a research report on Friday, May 31st. Finally, UBS Group reduced their price target on Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating on the stock in a research report on Tuesday, April 9th.

Institutional Investors Weigh In On Maxeon Solar Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAXN. Paloma Partners Management Co bought a new position in shares of Maxeon Solar Technologies in the 1st quarter valued at $44,000. Vanguard Group Inc. lifted its stake in shares of Maxeon Solar Technologies by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 1,277,907 shares of the company’s stock valued at $4,255,000 after acquiring an additional 117,594 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Maxeon Solar Technologies by 12.2% in the 1st quarter. SG Americas Securities LLC now owns 54,602 shares of the company’s stock valued at $182,000 after acquiring an additional 5,941 shares during the last quarter. Syon Capital LLC bought a new position in shares of Maxeon Solar Technologies in the 4th quarter valued at $240,000. Finally, Virtu Financial LLC bought a new position in shares of Maxeon Solar Technologies in the 4th quarter valued at $181,000. 47.67% of the stock is currently owned by institutional investors.

Maxeon Solar Technologies Price Performance

Maxeon Solar Technologies stock opened at $0.55 on Tuesday. Maxeon Solar Technologies has a 12 month low of $0.55 and a 12 month high of $29.41. The stock’s 50 day moving average is $1.99 and its 200-day moving average is $3.57. The company has a current ratio of 1.36, a quick ratio of 0.56 and a debt-to-equity ratio of 83.32. The company has a market capitalization of $30.12 million, a price-to-earnings ratio of -0.07 and a beta of 1.47.

Maxeon Solar Technologies (NASDAQ:MAXN) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.57). The company had revenue of $187.46 million for the quarter, compared to analyst estimates of $186.20 million. Maxeon Solar Technologies had a negative return on equity of 390.12% and a negative net margin of 37.92%. Equities research analysts expect that Maxeon Solar Technologies will post -3.34 EPS for the current year.

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.