Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN – Get Rating) shares gapped up before the market opened on Tuesday . The stock had previously closed at $21.66, but opened at $22.91. Maxeon Solar Technologies shares last traded at $22.84, with a volume of 3,388 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on MAXN shares. Bank of America lifted their price target on Maxeon Solar Technologies from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, September 16th. Morgan Stanley lifted their price target on Maxeon Solar Technologies from $14.00 to $21.00 and gave the company an "equal weight" rating in a research report on Thursday, August 18th. The Goldman Sachs Group upgraded Maxeon Solar Technologies from a "sell" rating to a "buy" rating and lifted their price target for the company from $9.00 to $27.00 in a research report on Wednesday, September 7th. Northland Securities started coverage on Maxeon Solar Technologies in a research report on Monday, August 8th. They issued an "outperform" rating and a $22.00 target price for the company. Finally, Raymond James downgraded Maxeon Solar Technologies from an "outperform" rating to a "market perform" rating in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.60.

Maxeon Solar Technologies Stock Up 5.2 %

The company has a current ratio of 1.11, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $19.35 and a 200 day simple moving average of $14.98. The firm has a market capitalization of $1.01 billion, a PE ratio of -3.08 and a beta of 1.58.

Hedge Funds Weigh In On Maxeon Solar Technologies

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC increased its stake in shares of Maxeon Solar Technologies by 332.0% during the first quarter. Signaturefd LLC now owns 1,771 shares of the company's stock valued at $26,000 after buying an additional 1,361 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Maxeon Solar Technologies during the first quarter valued at approximately $68,000. Quantbot Technologies LP increased its stake in shares of Maxeon Solar Technologies by 1,609.4% during the first quarter. Quantbot Technologies LP now owns 11,402 shares of the company's stock valued at $165,000 after buying an additional 10,735 shares during the period. Keebeck Alpha LP purchased a new stake in Maxeon Solar Technologies in the first quarter worth $172,000. Finally, Envestnet Asset Management Inc. grew its stake in Maxeon Solar Technologies by 13.6% in the first quarter. Envestnet Asset Management Inc. now owns 12,282 shares of the company's stock worth $178,000 after purchasing an additional 1,468 shares during the period. 56.08% of the stock is owned by hedge funds and other institutional investors.

About Maxeon Solar Technologies

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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.

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