Maxeon Solar Technologies Target of Unusually Large Options Trading (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 53,841 call options on the stock. This is an increase of 336% compared to the average daily volume of 12,339 call options.

Institutional Trading of Maxeon Solar Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group grew its stake in Maxeon Solar Technologies by 40.8% during the third quarter. Schroder Investment Management Group now owns 1,749,061 shares of the company's stock worth $20,272,000 after buying an additional 506,633 shares during the period. Soviero Asset Management LP purchased a new position in Maxeon Solar Technologies in the fourth quarter valued at about $1,936,000. Invesco Ltd. lifted its stake in shares of Maxeon Solar Technologies by 16.9% during the third quarter. Invesco Ltd. now owns 1,634,731 shares of the company's stock worth $18,947,000 after purchasing an additional 235,823 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Maxeon Solar Technologies by 380.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,720 shares of the company's stock worth $1,267,000 after buying an additional 139,945 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Maxeon Solar Technologies by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 1,277,907 shares of the company's stock valued at $4,255,000 after buying an additional 117,594 shares during the period. Institutional investors and hedge funds own 47.67% of the company's stock.

Maxeon Solar Technologies Trading Up 9.9 %

Maxeon Solar Technologies stock traded up $0.10 during trading on Wednesday, reaching $1.11. The company had a trading volume of 3,972,825 shares, compared to its average volume of 3,265,749. Maxeon Solar Technologies has a 12-month low of $0.96 and a 12-month high of $29.41. 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 stock's 50 day moving average price is $2.07 and its two-hundred day moving average price is $3.68. The firm has a market capitalization of $60.92 million, a price-to-earnings ratio of -0.14 and a beta of 1.59.

Maxeon Solar Technologies (NASDAQ:MAXN - Get Free Report) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($1.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.57). The company had revenue of $187.46 million for the quarter, compared to analysts' expectations of $186.20 million. Maxeon Solar Technologies had a negative net margin of 37.92% and a negative return on equity of 390.12%. As a group, equities analysts expect that Maxeon Solar Technologies will post -3.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MAXN has been the topic of several research reports. The Goldman Sachs Group lowered Maxeon Solar Technologies from a "buy" rating to a "sell" rating and lowered their target price for the company from $11.00 to $1.00 in a report on Tuesday, June 4th. Raymond James lowered shares of Maxeon Solar Technologies from an "outperform" rating to a "market perform" rating in a research report on Tuesday, April 9th. 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 reduced their target price on Maxeon Solar Technologies from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Friday, May 31st. Finally, UBS Group dropped their price target 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. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $4.41.

Maxeon Solar Technologies Company Profile

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.