Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Free Report)’s stock price gapped down prior to trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $43.00 to $37.00. The stock had previously closed at $22.28, but opened at $16.75. The Goldman Sachs Group currently has a buy rating on the stock. Maxeon Solar Technologies shares last traded at $15.98, with a volume of 2,514,725 shares changing hands.
Other research analysts have also issued reports about the stock. Roth Capital upgraded shares of Maxeon Solar Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 14th. Bank of America lowered their target price on shares of Maxeon Solar Technologies from $37.00 to $33.00 in a research note on Friday, May 12th. Raymond James lowered their target price on shares of Maxeon Solar Technologies from $34.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday. Northland Securities increased their price target on shares of Maxeon Solar Technologies from $31.00 to $40.00 in a report on Wednesday, May 17th. Finally, 51job reissued an “upgrade” rating on shares of Maxeon Solar Technologies in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.
Read Our Latest Stock Analysis on Maxeon Solar Technologies
Institutional Trading of Maxeon Solar Technologies
Maxeon Solar Technologies Stock Performance
The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.77 and a current ratio of 1.30. The firm’s 50-day moving average price is $26.13 and its two-hundred day moving average price is $25.45. The firm has a market capitalization of $688.42 million, a price-to-earnings ratio of -3.28 and a beta of 1.41.
Maxeon Solar Technologies (NASDAQ:MAXN – Get Free Report) last issued its earnings results on Thursday, August 10th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.15. The business had revenue of $348.37 million for the quarter, compared to analyst estimates of $376.48 million. Maxeon Solar Technologies had a negative net margin of 16.27% and a negative return on equity of 178.57%. Sell-side analysts predict that Maxeon Solar Technologies, Ltd. will post 0.12 earnings per share for the current year.
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.
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