Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives $4.41 Consensus Target Price from Brokerages

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN - Get Free Report) has been given an average rating of "Reduce" by the ten analysts that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $4.41.

Several research analysts recently issued reports on MAXN shares. UBS Group cut their price objective on Maxeon Solar Technologies from $3.00 to $2.75 and set a "sell" rating for the company in a research report on Tuesday, April 9th. Mizuho cut their price objective on Maxeon Solar Technologies from $7.00 to $4.00 and set a "neutral" rating for the company in a research report on Thursday, April 11th. The Goldman Sachs Group downgraded Maxeon Solar Technologies from a "buy" rating to a "sell" rating and cut their price objective for the stock from $11.00 to $1.00 in a research report on Tuesday, June 4th. Northland Securities downgraded Maxeon Solar Technologies from a "market perform" rating to an "under perform" rating and cut their price objective for the stock from $7.00 to $0.50 in a research report on Friday, May 31st. Finally, Roth Mkm cut their price target on Maxeon Solar Technologies from $3.00 to $2.00 and set a "neutral" rating for the company in a report on Friday, May 31st.

Maxeon Solar Technologies Price Performance

Shares of NASDAQ:MAXN traded down $0.05 during trading on Tuesday, hitting $1.01. 2,663,088 shares of the stock were exchanged, compared to its average volume of 3,259,676. The company has a fifty day moving average price of $2.09 and a two-hundred day moving average price of $3.70. The company has a market cap of $55.43 million, a PE ratio of -0.13 and a beta of 1.59. The company has a current ratio of 1.36, a quick ratio of 0.56 and a debt-to-equity ratio of 83.32. Maxeon Solar Technologies has a 12-month low of $0.96 and a 12-month high of $29.41.

Maxeon Solar Technologies (NASDAQ:MAXN - Get Free Report) last announced its quarterly 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). The firm had revenue of $187.46 million for the quarter, compared to analysts' expectations of $186.20 million. Maxeon Solar Technologies had a negative return on equity of 390.12% and a negative net margin of 37.92%. On average, analysts forecast that Maxeon Solar Technologies will post -3.34 EPS for the current year.

Hedge Funds Weigh In On Maxeon Solar Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paloma Partners Management Co acquired a new stake in shares of Maxeon Solar Technologies in the 1st quarter valued at about $44,000. North Star Investment Management Corp. raised its stake in shares of Maxeon Solar Technologies by 37.9% in the 4th quarter. North Star Investment Management Corp. now owns 8,000 shares of the company's stock valued at $57,000 after purchasing an additional 2,200 shares in the last quarter. Tower Research Capital LLC TRC raised 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 valued at $81,000 after purchasing an additional 5,480 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Maxeon Solar Technologies in the 4th quarter valued at about $100,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Maxeon Solar Technologies in the 4th quarter valued at about $108,000. 47.67% of the stock is owned by hedge funds and other 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.