In yesterday’s Wall Street session, Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) shares traded at $21.84, down -1.75% from the previous session.
MAXN stock price is now 8.17% away from the 50-day moving average and 28.00% away from the 200-day moving average. The market capitalization of the company currently stands at $980.62M.
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With the price target maintained at $22, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Maxeon Solar Technologies Ltd. (NASDAQ: MAXN). On September 16, 2022, BofA Securities reiterated its ‘Buy’ rating on the stock by increasing its target price from $25 to quote $30, while ‘Goldman’ rates the stock as ‘Buy’.
A total of 49.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MAXN stock. A new stake in Maxeon Solar Technologies Ltd. shares was purchased by DRIEHAUS CAPITAL MANAGEMENT LLC during the first quarter worth $23,816,000. ANGLEPOINT ASSET MANAGEMENT LTD invested $11,405,000 in shares of MAXN during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in Maxeon Solar Technologies Ltd. valued at approximately $5,374,000. SAMLYN CAPITAL, LLC acquired a new stake in MAXN for approximately $4,300,000. POLAR CAPITAL HOLDINGS PLC purchased a new stake in MAXN valued at around $1,995,000 in the second quarter. In total, there are 172 active investors with 39.00% ownership of the company’s stock.
On Thursday morning Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) stock kicked off with the opening price of $22.05. During the past 12 months, Maxeon Solar Technologies Ltd. has had a low of $7.48 and a high of $27.99. As of last week, the company has a debt-to-equity ratio of 3.44, a current ratio of 1.40, and a quick ratio of 0.80. The fifty day moving average price for MAXN is $20.19 and a two-hundred day moving average price translates $17.06 for the stock.
The latest earnings results from Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) was released for Jul, 2022. According to the Solar Company, earnings per share came in at -$2.15, missing analysts’ expectations of -$1.6 by -0.55. This compares to -$1.62 EPS in the same period last year. The net profit margin was -27.70% and return on equity was -119.60% for MAXN. The company reported revenue of $275.45 million for the quarter, compared to $220.49 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 24.93 percent. For the current quarter, analysts expect MAXN to generate $277.16M in revenue.
Maxeon Solar Technologies Ltd.(MAXN) 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. Maxeon Solar Technologies, Ltd. was incorporated in 2019 and is headquartered in Singapore.
