Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Short Interest Down 17.1% in December

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Maxeon Solar Technologies by 275.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,612 shares of the company’s stock worth $72,000 after buying an additional 62,054 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Maxeon Solar Technologies in the 2nd quarter worth $86,000. XTX Topco Ltd purchased a new stake in shares of Maxeon Solar Technologies during the 2nd quarter worth $130,000. Cowen AND Company LLC purchased a new position in Maxeon Solar Technologies in the second quarter valued at about $760,000. Finally, Electron Capital Partners LLC raised its holdings in Maxeon Solar Technologies by 806.5% in the second quarter. Electron Capital Partners LLC now owns 1,083,762 shares of the company’s stock worth $924,000 after purchasing an additional 964,211 shares in the last quarter. 47.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reissued 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 analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $26,072.00.

Maxeon Solar Technologies Trading Down 2.2 %

Shares of Maxeon Solar Technologies stock traded down $0.17 during trading on Tuesday, hitting $7.48. 232,785 shares of the stock traded hands, compared to its average volume of 620,203. The stock’s fifty day simple moving average is $8.06 and its 200 day simple moving average is $1,715.38. The firm has a market cap of $4.11 million, a P/E ratio of -0.01 and a beta of 1.36. Maxeon Solar Technologies has a 52-week low of $4.98 and a 52-week high of $735.00.

Maxeon Solar Technologies Company Profile

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.