Maxeon Solar Technologies (NASDAQ:MAXN) Trading Down 6.1% – Here’s What Happened

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s share price was down 6.1% on Monday . The company traded as low as $1.36 and last traded at $1.39. Approximately 77,349 shares changed hands during trading, a decline of 40% from the average daily volume of 128,015 shares. The stock had previously closed at $1.48.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MAXN shares. Wall Street Zen upgraded Maxeon Solar Technologies to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Maxeon Solar Technologies in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Maxeon Solar Technologies Stock Performance

The firm has a 50 day moving average price of $2.48 and a two-hundred day moving average price of $3.02. The company has a market cap of $18.72 million, a P/E ratio of -0.01 and a beta of 1.13.

Institutional Investors Weigh In On Maxeon Solar Technologies

A hedge fund recently bought a new stake in Maxeon Solar Technologies stock. Mackenzie Financial Corp bought a new stake in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,944 shares of the company’s stock, valued at approximately $37,000. Mackenzie Financial Corp owned approximately 1.99% of Maxeon Solar Technologies as of its most recent SEC filing. 47.67% of the stock is currently owned by institutional investors.

Maxeon Solar Technologies Company Profile

Maxeon Solar Technologies, traded on NASDAQ as MAXN, is a global leader in the design and manufacture of high-efficiency solar panels. Utilizing its proprietary interdigitated back contact (IBC) cell architecture, Maxeon delivers advanced photovoltaic modules that offer superior performance, reliability, and durability to residential, commercial, and utility-scale customers. The company’s product portfolio includes a range of solar panels optimized for various installation scenarios and climates, underpinned by its commitment to quality and long-term warranty coverage.

Headquartered in Singapore, Maxeon operates manufacturing facilities in Malaysia, Mexico, and France, and maintains a broad footprint across the Americas, Europe, the Middle East, Africa, and Asia Pacific.