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

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the recipient of some unusual options trading activity on Friday. Traders purchased 4,454 call options on the stock. This represents an increase of approximately 85% compared to the typical daily volume of 2,413 call options.

Analysts Set New Price Targets

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

Maxeon Solar Technologies Stock Performance

Shares of MAXN stock traded up $0.31 on Friday, hitting $2.09. The company had a trading volume of 3,092,145 shares, compared to its average volume of 2,303,572. Maxeon Solar Technologies has a twelve month low of $1.71 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 firm has a market cap of $112.65 million, a P/E ratio of -0.58 and a beta of 1.46. The company has a 50-day moving average price of $3.16 and a 200-day moving average price of $4.89.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in shares of Maxeon Solar Technologies by 16.9% in the 3rd quarter. Invesco Ltd. now owns 1,634,731 shares of the company’s stock valued at $18,947,000 after purchasing an additional 235,823 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Maxeon Solar Technologies by 143.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 260,593 shares of the company’s stock worth $2,904,000 after purchasing an additional 153,664 shares during the last quarter. Schroder Investment Management Group lifted its stake in Maxeon Solar Technologies by 40.8% in the 3rd quarter. Schroder Investment Management Group now owns 1,749,061 shares of the company’s stock valued at $20,272,000 after buying an additional 506,633 shares in the last quarter. Swiss National Bank boosted its holdings in Maxeon Solar Technologies by 8.9% in the 3rd quarter. Swiss National Bank now owns 75,600 shares of the company’s stock worth $876,000 after buying an additional 6,200 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Maxeon Solar Technologies by 35.4% in 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 during the last quarter. 47.67% of the stock is currently 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.