Maxeon Solar Technologies (NASDAQ:MAXN) PT Lowered to $14.00 at Morgan Stanley

Maxeon Solar Technologies (NASDAQ:MAXN) had its price objective decreased by Morgan Stanley from $18.00 to $14.00 in a research note released on Thursday, Price Targets.com reports. Morgan Stanley currently has an equal weight rating on the stock.

MAXN has been the subject of several other research reports. Raymond James cut Maxeon Solar Technologies from a strong-buy rating to an outperform rating and cut their price target for the company from $26.00 to $23.00 in a report on Tuesday, October 5th. Bank of America upgraded Maxeon Solar Technologies from a neutral rating to a buy rating and lifted their target price for the stock from $22.00 to $23.00 in a report on Friday, December 3rd. Finally, Zacks Investment Research upgraded Maxeon Solar Technologies from a sell rating to a hold rating in a report on Wednesday, December 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $22.83.

NASDAQ MAXN opened at $12.40 on Thursday. The stock has a market capitalization of $423.22 million, a PE ratio of -2.67 and a beta of 1.77. The business has a 50 day simple moving average of $16.91 and a two-hundred day simple moving average of $17.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.46 and a quick ratio of 0.89. Maxeon Solar Technologies has a 1-year low of $11.66 and a 1-year high of $57.97.

Maxeon Solar Technologies (NASDAQ:MAXN) last released its quarterly earnings results on Tuesday, November 16th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($1.42) by ($0.07). The firm had revenue of $220.49 million for the quarter, compared to analysts’ expectations of $231.00 million. Maxeon Solar Technologies had a negative net margin of 22.01% and a negative return on equity of 40.42%. During the same quarter in the prior year, the business earned ($2.74) EPS. On average, analysts anticipate that Maxeon Solar Technologies will post -5.97 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its stake in shares of Maxeon Solar Technologies by 23.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 4,818 shares of the company’s stock worth $84,000 after acquiring an additional 910 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Maxeon Solar Technologies by 681.2% during the 3rd quarter. Signaturefd LLC now owns 1,492 shares of the company’s stock worth $26,000 after acquiring an additional 1,301 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Maxeon Solar Technologies by 9.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,848 shares of the company’s stock worth $279,000 after acquiring an additional 1,374 shares during the last quarter. US Bancorp DE lifted its stake in shares of Maxeon Solar Technologies by 305.1% during the 3rd quarter. US Bancorp DE now owns 2,046 shares of the company’s stock worth $36,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its stake in shares of Maxeon Solar Technologies by 3.8% during the 2nd quarter. Eqis Capital Management Inc. now owns 43,420 shares of the company’s stock worth $930,000 after acquiring an additional 1,593 shares during the last quarter. 38.71% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Maxeon Solar Technologies (NASDAQ:MAXN)

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