Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Update

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 1,070,000 shares, a decline of 17.1% from the November 30th total of 1,290,000 shares. Currently, 20.4% of the shares of the company are short sold. Based on an average trading volume of 1,320,000 shares, the short-interest ratio is currently 0.8 days.

Maxeon Solar Technologies Stock Performance

Shares of MAXN stock traded down $0.61 during trading on Friday, hitting $8.10. The company had a trading volume of 494,702 shares, compared to its average volume of 622,372. The stock’s 50-day moving average price is $8.06 and its 200 day moving average price is $1,816.67. Maxeon Solar Technologies has a one year low of $4.98 and a one year high of $779.99. The firm has a market capitalization of $4.45 million, a P/E ratio of -0.01 and a beta of 1.36.

Institutional Trading of Maxeon Solar Technologies

A number of institutional investors have recently modified their holdings of the stock. XTX Topco Ltd increased its position in shares of Maxeon Solar Technologies by 343.8% in the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after purchasing an additional 522,830 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Maxeon Solar Technologies by 275.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock valued at $72,000 after buying an additional 62,054 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Maxeon Solar Technologies in the 2nd quarter valued at approximately $86,000. Verition Fund Management LLC acquired a new position in shares of Maxeon Solar Technologies in the 3rd quarter valued at approximately $113,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Maxeon Solar Technologies during the 3rd quarter worth approximately $204,000. 47.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reiterated an “underweight” rating and set a $4.00 target price on shares of Maxeon Solar Technologies in a research note on Friday, November 15th. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, Maxeon Solar Technologies currently has an average rating of “Reduce” and a consensus target price of $26,072.00.

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.