Maxeon Solar Technologies (NASDAQ:MAXN) Price Target Lowered to $2.75 at UBS Group

Maxeon Solar Technologies (NASDAQ:MAXN) had its target price decreased by UBS Group from $3.00 to $2.75 in a report released on Tuesday morning, Benzinga reports. UBS Group currently has a sell rating on the stock.

Several other analysts have also commented on MAXN. Roth Mkm reaffirmed a neutral rating and set a $3.00 target price on shares of Maxeon Solar Technologies in a report on Tuesday. Raymond James lowered Maxeon Solar Technologies from an outperform rating to a market perform rating in a report on Tuesday. The Goldman Sachs Group decreased their target price on Maxeon Solar Technologies from $18.00 to $11.00 and set a buy rating on the stock in a research report on Monday, December 18th. Finally, Mizuho decreased their target price on Maxeon Solar Technologies from $8.00 to $7.00 and set a neutral rating on the stock in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Maxeon Solar Technologies presently has an average rating of Hold and a consensus price target of $6.97.

Maxeon Solar Technologies Trading Down 2.4 %

Shares of NASDAQ:MAXN opened at $2.67 on Tuesday. The stock has a market cap of $143.64 million, a price-to-earnings ratio of -0.74 and a beta of 1.46. Maxeon Solar Technologies has a 52-week low of $2.36 and a 52-week high of $38.91. The business has a 50-day moving average price of $3.94 and a 200-day moving average price of $5.62. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 2.19.

Hedge Funds Weigh In On Maxeon Solar Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Maxeon Solar Technologies by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 1,160,313 shares of the company’s stock worth $8,319,000 after buying an additional 144,142 shares in the last quarter. Syon Capital LLC purchased a new position in Maxeon Solar Technologies during the fourth quarter worth approximately $240,000. Virtu Financial LLC purchased a new position in Maxeon Solar Technologies during the fourth quarter worth approximately $181,000. Barclays PLC lifted its position in Maxeon Solar Technologies by 308.0% during the fourth quarter. Barclays PLC now owns 75,524 shares of the company’s stock worth $542,000 after buying an additional 57,013 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in Maxeon Solar Technologies by 48.4% during the fourth quarter. Vident Advisory LLC now owns 38,651 shares of the company’s stock worth $277,000 after buying an additional 12,599 shares in the last quarter. Hedge funds and other institutional investors own 47.67% of the company’s stock.

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.