Maxeon Solar Technologies (NASDAQ:MAXN) Trading Down 5.4% – What’s Next?

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) fell 5.4% during mid-day trading on Monday . The company traded as low as $3.31 and last traded at $3.35. 45,718 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 70,281 shares. The stock had previously closed at $3.54.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Maxeon Solar Technologies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Maxeon Solar Technologies currently has an average rating of “Sell”.

Maxeon Solar Technologies Trading Down 5.4%

The stock has a market capitalization of $1.84 million, a P/E ratio of -0.02 and a beta of 1.05. The business has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $3.55.

Institutional Investors Weigh In On Maxeon Solar Technologies

A hedge fund recently bought a new stake in Maxeon Solar Technologies stock. Mackenzie Financial Corp purchased a new stake in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,944 shares of the company’s stock, valued at approximately $37,000. Mackenzie Financial Corp owned about 1.99% of Maxeon Solar Technologies at the end of the most recent quarter. Institutional investors own 47.67% of the company’s stock.

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.