Maxeon Solar Technologies Sees Unusually High Options Volume (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the recipient of unusually large options trading on Tuesday. Investors acquired 20,862 put options on the company. This is an increase of approximately 836% compared to the average volume of 2,229 put options.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in Maxeon Solar Technologies during the 1st quarter worth approximately $27,000. Exchange Traded Concepts LLC bought a new stake in shares of Maxeon Solar Technologies in the 3rd quarter worth approximately $43,000. North Star Investment Management Corp. lifted its holdings in shares of Maxeon Solar Technologies by 37.9% in the 4th quarter. North Star Investment Management Corp. now owns 8,000 shares of the company’s stock worth $57,000 after purchasing an additional 2,200 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Maxeon Solar Technologies in the 2nd quarter worth approximately $59,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Maxeon Solar Technologies by 177.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,858 shares of the company’s stock worth $68,000 after purchasing an additional 3,744 shares during the last quarter. Institutional investors own 47.67% of the company’s stock.

Analyst Ratings Changes

MAXN has been the topic of a number of research analyst reports. Roth Mkm reiterated a “neutral” rating and set a $3.00 target price on shares of Maxeon Solar Technologies in a research report on Tuesday. Raymond James downgraded Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday. The Goldman Sachs Group reduced their price objective on Maxeon Solar Technologies from $18.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, December 18th. UBS Group downgraded Maxeon Solar Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $7.00 to $3.00 in a research report on Friday, March 8th. Finally, Mizuho reduced their price objective on Maxeon Solar Technologies from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Maxeon Solar Technologies currently has a consensus rating of “Hold” and an average target price of $7.00.

Maxeon Solar Technologies Stock Down 7.7 %

NASDAQ MAXN traded down $0.21 during mid-day trading on Tuesday, reaching $2.52. 1,748,758 shares of the company’s stock traded hands, compared to its average volume of 2,189,096. The company has a current ratio of 1.62, a quick ratio of 0.88 and a debt-to-equity ratio of 2.19. The company has a fifty day simple moving average of $3.98 and a 200-day simple moving average of $5.69. Maxeon Solar Technologies has a 1-year low of $2.36 and a 1-year high of $38.91. The company has a market cap of $135.83 million, a price-to-earnings ratio of -0.71 and a beta of 1.46.

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.