Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Up 27.7% in February

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 985,500 shares, an increase of 27.7% from the January 31st total of 771,800 shares. Based on an average daily trading volume, of 498,100 shares, the short-interest ratio is currently 2.0 days. Currently, 18.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MAXN. Linden Advisors LP bought a new position in shares of Maxeon Solar Technologies in the fourth quarter worth about $172,000. Cresset Asset Management LLC bought a new position in Maxeon Solar Technologies in the 4th quarter valued at approximately $154,000. 683 Capital Management LLC acquired a new stake in Maxeon Solar Technologies in the fourth quarter valued at approximately $610,000. Aristides Capital LLC bought a new stake in shares of Maxeon Solar Technologies during the fourth quarter worth $258,000. Finally, XTX Topco Ltd increased its holdings in shares of Maxeon Solar Technologies by 343.8% during the third quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock worth $65,000 after buying an additional 522,830 shares in the last quarter. Institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Price Performance

MAXN traded down $0.09 during trading on Thursday, hitting $3.15. 212,688 shares of the stock traded hands, compared to its average volume of 671,121. The business has a 50 day moving average price of $6.04 and a 200 day moving average price of $272.01. Maxeon Solar Technologies has a twelve month low of $2.68 and a twelve month high of $420.00. The company has a market cap of $1.73 million, a price-to-earnings ratio of -0.01 and a beta of 1.38.

Maxeon Solar Technologies (NASDAQ:MAXN) last issued its quarterly earnings results on Thursday, December 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($11.50) by $11.03. Maxeon Solar Technologies had a negative return on equity of 1,598.11% and a negative net margin of 94.16%.

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.