Stocks of Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) traded higher last session on Wall Street, down -8.66% to $23.77.
According to the data, Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) has 8 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $30.00, we find $40.00. Given the previous closing price of $26.03, this indicates a potential upside of 53.67 percent. MAXN stock price is now -14.53% away from the 50-day moving average and 1.19% away from the 200-day moving average. The market capitalization of the company currently stands at $1.24B.
A total of 2 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $39.14 as their price target over the next twelve months.
With the price target enhanced from $21 to $40, ROTH MKM Upgraded its rating from Neutral to Buy for Maxeon Solar Technologies Ltd. (NASDAQ: MAXN).
A total of 48.76% 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 TWO SIGMA ADVISERS, LP during the first quarter worth $7,192,000. NORDEA INVESTMENT MANAGEMENT AB invested $6,978,000 in shares of MAXN during the first quarter. In the first quarter, CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in Maxeon Solar Technologies Ltd. valued at approximately $6,309,000. MASTERS CAPITAL MANAGEMENT LLC acquired a new stake in MAXN for approximately $5,944,000. PINPOINT ASSET MANAGEMENT LTD purchased a new stake in MAXN valued at around $4,984,000 in the second quarter. In total, there are 213 active investors with 39.00% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $26.31 for Maxeon Solar Technologies Ltd. (NASDAQ: MAXN). During the past 12 months, Maxeon Solar Technologies Ltd. has had a low of $10.85 and a high of $38.91. As of last week, the company has a debt-to-equity ratio of 6.32, a current ratio of 1.30, and a quick ratio of 0.80. The fifty day moving average price for MAXN is $27.64 and a two-hundred day moving average price translates $23.51 for the stock.
The latest earnings results from Maxeon Solar Technologies Ltd. (NASDAQ: MAXN) was released for Apr, 2023. The net profit margin was -16.30% and return on equity was -188.60% for MAXN. The company reported revenue of $318.33 million for the quarter, compared to $223.08 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 42.7 percent.
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. The company was incorporated in 2019 and is headquartered in Singapore.
