Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Given Average Recommendation of “Moderate Buy” by Brokerages

Posted by on Aug 5th, 2023

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.00.

A number of brokerages have recently weighed in on MAXN. Roth Mkm raised shares of Maxeon Solar Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $40.00 in a research note on Wednesday, June 14th. Bank of America dropped their price objective on shares of Maxeon Solar Technologies from $37.00 to $33.00 in a research note on Friday, May 12th. 51job reissued an “upgrade” rating on shares of Maxeon Solar Technologies in a research note on Wednesday, June 14th. Roth Capital raised shares of Maxeon Solar Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Raymond James lifted their target price on shares of Maxeon Solar Technologies from $30.00 to $34.00 in a research note on Thursday, May 11th.

Maxeon Solar Technologies Trading Down 1.5 %

Shares of Maxeon Solar Technologies stock opened at $22.04 on Friday. Maxeon Solar Technologies has a 12-month low of $14.50 and a 12-month high of $38.91. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 5.15. The stock has a market cap of $1.00 billion, a PE ratio of -4.77 and a beta of 1.41. The company has a 50-day moving average of $26.84 and a two-hundred day moving average of $25.48.

Maxeon Solar Technologies (NASDAQ:MAXN – Get Free Report) last issued its earnings results on Wednesday, May 10th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.97. Maxeon Solar Technologies had a negative net margin of 16.27% and a negative return on equity of 178.57%. The company had revenue of $318.33 million during the quarter, compared to analysts’ expectations of $328.47 million. On average, research analysts anticipate that Maxeon Solar Technologies will post 0.12 EPS for the current fiscal year.

Institutional Trading of Maxeon Solar Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Maxeon Solar Technologies in the 1st quarter valued at $27,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Maxeon Solar Technologies in the 4th quarter valued at $31,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Maxeon Solar Technologies in the 2nd quarter valued at $99,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Maxeon Solar Technologies by 19.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,048 shares of the company’s stock valued at $81,000 after purchasing an additional 830 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Maxeon Solar Technologies in the 4th quarter valued at $109,000. 56.08% of the stock is owned by hedge funds and other institutional investors.

About Maxeon Solar Technologies

(Get Free Report

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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Analyst Recommendations for Maxeon Solar Technologies (NASDAQ:MAXN)

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