Maxeon Solar Technologies (NASDAQ:MAXN) Stock Price Down 1.6% – Here’s What Happened

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)’s stock price traded down 1.6% on Tuesday . The stock traded as low as $3.03 and last traded at $3.10. 32,339 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 58,704 shares. The stock had previously closed at $3.15.

Analyst Upgrades and Downgrades

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

Maxeon Solar Technologies Stock Performance

The firm’s 50 day moving average is $3.18 and its 200-day moving average is $3.56. The stock has a market capitalization of $1.71 million, a price-to-earnings ratio of -0.02 and a beta of 1.01.

Institutional Investors Weigh In On Maxeon Solar Technologies

An institutional investor recently bought a new position in Maxeon Solar Technologies stock. Mackenzie Financial Corp purchased a new position in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,944 shares of the company’s stock, valued at approximately $37,000. Mackenzie Financial Corp owned 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, 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.