Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Receives $26,072.00 Average Price Target from Brokerages

Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) have received an average recommendation of “Strong Sell” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $26,072.00.

Separately, Morgan Stanley reiterated an “underweight” rating and issued a $4.00 target price on shares of Maxeon Solar Technologies in a research note on Friday, November 15th.

Maxeon Solar Technologies Stock Performance

Shares of NASDAQ MAXN opened at $6.85 on Friday. Maxeon Solar Technologies has a fifty-two week low of $4.98 and a fifty-two week high of $602.00. The company has a market cap of $3.76 million, a price-to-earnings ratio of -0.01 and a beta of 1.35. The business’s 50 day moving average price is $8.31 and its 200-day moving average price is $1,130.04.

Institutional Investors Weigh In On Maxeon Solar Technologies

Several hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Maxeon Solar Technologies by 275.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock valued at $72,000 after acquiring an additional 62,054 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Maxeon Solar Technologies in the 2nd quarter valued at about $86,000. XTX Topco Ltd purchased a new stake in shares of Maxeon Solar Technologies in the 2nd quarter worth approximately $130,000. Cowen AND Company LLC bought a new position in shares of Maxeon Solar Technologies during the second quarter valued at approximately $760,000. Finally, Electron Capital Partners LLC boosted its stake in shares of Maxeon Solar Technologies by 806.5% during the second quarter. Electron Capital Partners LLC now owns 1,083,762 shares of the company’s stock valued at $924,000 after purchasing an additional 964,211 shares in the last quarter. 47.67% of the stock is currently owned by hedge funds and other institutional investors.

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.