Investors Purchase High Volume of Maxeon Solar Technologies Call Options (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the recipient of unusually large options trading activity on Friday. Stock investors purchased 4,454 call options on the stock. This represents an increase of approximately 85% compared to the average volume of 2,413 call options.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Roth Mkm reiterated a “neutral” rating and set a $3.00 price target on shares of Maxeon Solar Technologies in a report on Tuesday, April 9th. Mizuho lowered their price objective on shares of Maxeon Solar Technologies from $7.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Raymond James lowered shares of Maxeon Solar Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 9th. Finally, UBS Group reduced their price target on Maxeon Solar Technologies from $3.00 to $2.75 and set a “sell” rating on the stock in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.59.

Hedge Funds Weigh In On Maxeon Solar Technologies

Institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in shares of Maxeon Solar Technologies in the 3rd quarter worth approximately $43,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Maxeon Solar Technologies by 45.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,952 shares of the company’s stock worth $417,000 after acquiring an additional 11,165 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Maxeon Solar Technologies by 16.9% during the third quarter. Bank of New York Mellon Corp now owns 78,657 shares of the company’s stock valued at $912,000 after acquiring an additional 11,355 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Maxeon Solar Technologies by 4.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,598 shares of the company’s stock worth $656,000 after purchasing an additional 2,261 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Maxeon Solar Technologies by 18.2% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 197,866 shares of the company’s stock worth $2,293,000 after purchasing an additional 30,400 shares in the last quarter. Institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Trading Up 17.4 %

MAXN stock traded up $0.31 during trading on Friday, reaching $2.09. The company had a trading volume of 3,092,145 shares, compared to its average volume of 2,303,572. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.62 and a quick ratio of 0.88. Maxeon Solar Technologies has a 52 week low of $1.71 and a 52 week high of $38.91. The business has a 50 day moving average of $3.16 and a 200 day moving average of $4.89. The company has a market cap of $112.65 million, a P/E ratio of -0.58 and a beta of 1.46.

About Maxeon Solar Technologies

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.