Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Sees Significant Decrease in Short Interest

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,070,000 shares, a drop of 17.1% from the November 30th total of 1,290,000 shares. Based on an average daily volume of 1,320,000 shares, the short-interest ratio is presently 0.8 days. Currently, 20.4% of the company’s stock are short sold.

Maxeon Solar Technologies Stock Down 7.0 %

Shares of NASDAQ:MAXN traded down $0.61 during midday trading on Friday, hitting $8.10. The stock had a trading volume of 494,702 shares, compared to its average volume of 622,372. The business’s 50-day simple moving average is $8.06 and its 200-day simple moving average is $1,816.67. Maxeon Solar Technologies has a 12 month low of $4.98 and a 12 month high of $779.99. The company has a market cap of $4.45 million, a P/E ratio of -0.01 and a beta of 1.36.

Analyst Ratings Changes

Separately, Morgan Stanley restated an “underweight” rating and set a $4.00 target price on shares of Maxeon Solar Technologies in a report on Friday, November 15th. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $26,072.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MAXN. XTX Topco Ltd increased its position in Maxeon Solar Technologies by 343.8% during the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after buying an additional 522,830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Maxeon Solar Technologies by 275.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock worth $72,000 after acquiring an additional 62,054 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Maxeon Solar Technologies in the 2nd quarter valued at $86,000. Verition Fund Management LLC bought a new stake in Maxeon Solar Technologies in the 3rd quarter valued at $113,000. Finally, GSA Capital Partners LLP acquired a new stake in Maxeon Solar Technologies during the 3rd quarter valued at $204,000. 47.67% of the stock is currently owned by institutional investors and hedge funds.

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.