American International Group Inc. acquired a new position in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,148 shares of the company’s stock, valued at approximately $342,000.
Several other large investors have also modified their holdings of the stock. Two Sigma Investments LP lifted its holdings in shares of Maxeon Solar Technologies by 1,153.9% in the first quarter. Two Sigma Investments LP now owns 576,084 shares of the company’s stock valued at $15,289,000 after purchasing an additional 530,139 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Maxeon Solar Technologies in the first quarter valued at $8,028,000. Nordea Investment Management AB purchased a new stake in shares of Maxeon Solar Technologies in the second quarter valued at $7,894,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Maxeon Solar Technologies in the first quarter valued at $7,043,000. Finally, Masters Capital Management LLC purchased a new stake in shares of Maxeon Solar Technologies in the first quarter valued at $6,635,000.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Roth Capital lowered Maxeon Solar Technologies from a “buy” rating to a “neutral” rating in a report on Wednesday, October 11th. UBS Group reduced their target price on Maxeon Solar Technologies from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday. Raymond James cut their price objective on Maxeon Solar Technologies from $20.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday. Northland Securities lowered Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $25.00 to $7.00 in a report on Thursday. Finally, Roth Mkm cut their price objective on Maxeon Solar Technologies from $10.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.57.
Maxeon Solar Technologies Trading Up 4.6 %
Maxeon Solar Technologies stock opened at $5.43 on Monday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.62 and a quick ratio of 1.12. The company has a market capitalization of $285.24 million, a price-to-earnings ratio of -1.50 and a beta of 1.75. Maxeon Solar Technologies, Ltd. has a one year low of $4.88 and a one year high of $38.91. The company’s fifty day moving average price is $9.12 and its two-hundred day moving average price is $19.05.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Free Report) last posted its earnings results on Wednesday, November 15th. The company reported ($2.21) EPS for the quarter, missing the consensus estimate of ($0.86) by ($1.35). The business had revenue of $227.60 million for the quarter, compared to analyst estimates of $226.85 million. Maxeon Solar Technologies had a negative return on equity of 115.75% and a negative net margin of 13.56%. The company’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.09) earnings per share. On average, analysts forecast that Maxeon Solar Technologies, Ltd. will post -1.19 earnings per share for the current fiscal year.
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.
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