Zurcher Kantonalbank Zurich Cantonalbank Acquires 22,850 Shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) by 157.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,399 shares of the company’s stock after purchasing an additional 22,850 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Maxeon Solar Technologies worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAXN. Schroder Investment Management Group increased its position in shares of Maxeon Solar Technologies by 40.8% in the third quarter. Schroder Investment Management Group now owns 1,749,061 shares of the company’s stock valued at $20,272,000 after acquiring an additional 506,633 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Maxeon Solar Technologies by 86.2% during the 3rd quarter. Nordea Investment Management AB now owns 546,492 shares of the company’s stock worth $6,345,000 after purchasing an additional 252,981 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Maxeon Solar Technologies by 16.9% in the 3rd quarter. Invesco Ltd. now owns 1,634,731 shares of the company’s stock valued at $18,947,000 after buying an additional 235,823 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Maxeon Solar Technologies by 143.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 260,593 shares of the company’s stock valued at $2,904,000 after buying an additional 153,664 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Maxeon Solar Technologies by 315.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 69,399 shares of the company’s stock valued at $498,000 after buying an additional 52,707 shares in the last quarter. 47.67% of the stock is currently owned by institutional investors and hedge funds.

Maxeon Solar Technologies Price Performance

Maxeon Solar Technologies stock opened at $2.36 on Monday. The company has a market capitalization of $127.20 million, a price-to-earnings ratio of -0.65 and a beta of 1.62. The stock’s 50 day moving average is $2.90 and its 200-day moving average is $4.58. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 2.19. Maxeon Solar Technologies, Ltd. has a 12 month low of $1.71 and a 12 month high of $38.91.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho cut their price target on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. UBS Group cut their target price on shares of Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating for the company in a research note on Tuesday, April 9th. Roth Mkm reiterated a “neutral” rating and set a $3.00 price target on shares of Maxeon Solar Technologies in a report on Tuesday, April 9th. Finally, Raymond James lowered Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Maxeon Solar Technologies presently has a consensus rating of “Hold” and an average target price of $6.59.

About Maxeon Solar Technologies

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.