UBS Group Lowers Maxeon Solar Technologies (NASDAQ:MAXN) Price Target to $2.75

Maxeon Solar Technologies (NASDAQ:MAXN) had its target price reduced by equities research analysts at UBS Group from $3.00 to $2.75 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “sell” rating on the stock. UBS Group’s price objective suggests a potential upside of 4.96% from the company’s current price.

Several other analysts also recently commented on the stock. Roth Mkm reissued a “neutral” rating and issued a $3.00 target price on shares of Maxeon Solar Technologies in a research report on Tuesday. Raymond James lowered shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday. Mizuho reduced their target price on shares of Maxeon Solar Technologies from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group reduced their target price on shares of Maxeon Solar Technologies from $18.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.97.

Maxeon Solar Technologies Trading Down 4.0 %

Shares of MAXN stock traded down $0.11 during trading hours on Tuesday, reaching $2.62. 2,835,830 shares of the stock traded hands, compared to its average volume of 2,205,448. Maxeon Solar Technologies has a 1-year low of $2.36 and a 1-year high of $38.91. The business has a fifty day moving average price of $3.98 and a 200 day moving average price of $5.69. The company has a quick ratio of 0.88, a current ratio of 1.62 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $141.22 million, a PE ratio of -0.70 and a beta of 1.46.

Hedge Funds Weigh In On Maxeon Solar Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Maxeon Solar Technologies during the first quarter worth $27,000. Exchange Traded Concepts LLC acquired a new position in Maxeon Solar Technologies during the third quarter worth about $43,000. North Star Investment Management Corp. raised its stake in Maxeon Solar Technologies by 37.9% during the fourth quarter. North Star Investment Management Corp. now owns 8,000 shares of the company’s stock worth $57,000 after acquiring an additional 2,200 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Maxeon Solar Technologies during the second quarter worth about $59,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Maxeon Solar Technologies by 177.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,858 shares of the company’s stock valued at $68,000 after buying an additional 3,744 shares during the period. 47.67% of the stock is owned by institutional investors.

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.