Maxeon Solar Technologies (NASDAQ:MAXN) Downgraded by UBS Group

Maxeon Solar Technologies (NASDAQ:MAXN - Get Free Report) was downgraded by analysts at UBS Group from a "neutral" rating to a "sell" rating in a report issued on Friday, MarketBeat Ratings reports. They currently have a $3.00 target price on the stock, down from their previous target price of $7.00. UBS Group's price objective points to a potential downside of 25.00% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group dropped 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. Raymond James dropped their price objective on Maxeon Solar Technologies from $20.00 to $10.00 and set an "outperform" rating on the stock in a research report on Thursday, November 16th. Mizuho lowered their price target on Maxeon Solar Technologies from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, January 30th. Morgan Stanley lowered their price target on Maxeon Solar Technologies from $14.00 to $5.00 and set an "equal weight" rating for the company in a report on Friday, December 8th. Finally, Roth Mkm lowered their price target on Maxeon Solar Technologies from $10.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, six have given 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 a consensus price target of $7.63.

Maxeon Solar Technologies Stock Performance

MAXN stock opened at $4.00 on Friday. Maxeon Solar Technologies has a twelve month low of $3.76 and a twelve month high of $38.91. 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 business's fifty day simple moving average is $5.03 and its two-hundred day simple moving average is $7.52. The firm has a market cap of $215.60 million, a price-to-earnings ratio of -1.10 and a beta of 1.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MAXN. DekaBank Deutsche Girozentrale boosted its position in shares of Maxeon Solar Technologies by 143.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 260,593 shares of the company's stock valued at $2,904,000 after purchasing an additional 153,664 shares during the period. Invesco Ltd. lifted its position in Maxeon Solar Technologies by 16.9% during the 3rd quarter. Invesco Ltd. now owns 1,634,731 shares of the company's stock worth $18,947,000 after acquiring an additional 235,823 shares during the period. Swiss National Bank lifted its position in Maxeon Solar Technologies by 8.9% during the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company's stock worth $876,000 after acquiring an additional 6,200 shares during the period. Barclays PLC raised its stake in shares of Maxeon Solar Technologies by 35.4% during the 3rd quarter. Barclays PLC now owns 18,511 shares of the company's stock worth $215,000 after buying an additional 4,840 shares in the last quarter. Finally, American International Group Inc. purchased a new position in shares of Maxeon Solar Technologies during the 2nd quarter worth approximately $342,000.

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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