Assenagon Asset Management S.A. increased its Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) shares during the third quarter, as indicated by the most recent SEC filing that the company has made. Approximately $329,000 was spent by the company to purchase 13,859 shares of stock in the corporation.
Other hedge funds have recently adjusted their holdings in MAXN by either buying additional shares or selling shares they already owned. These transactions were completed relatively recently. The value of BlackRock Inc.’s holdings in Maxeon Solar Technologies increased by 25.3% during the first three months of the year. BlackRock Inc. now holds 1,237,591 shares following the purchase of an additional 249,530 last quarter. As of the end of the most recent quarter, the value of these shares is $17,920,000. Eaton Vance Management made a new investment in the form of a stake in Maxeon Solar Technologies during the first three months of 2018. The total value of this investment was $1,701,000. The value of KBC Group NV’s holdings in Maxeon Solar Technologies increased by a cumulative 127.8 percent over the second quarter. After making a new purchase of 89,573 shares during the most recent quarter, KBC Group NV now directly owns 159,662 shares of the company’s stock, which have a value of $2,122,000. This gives the company a total portfolio value of $2,122,000. The value of Invesco Ltd.’s holdings in Maxeon Solar Technologies increased by 3.0% over the first three months of the year. Following the acquisition of additional shares during the most recent quarter, Invesco Ltd. now has 3,011,818 shares, which have a value of $43,611,000. Last but not least, during the second quarter, Point72 Asset Management L.P. paid approximately $949,000 to acquire an additional stake in Maxeon Solar Technologies. Currently, 56.08% of the company’s shares are owned by hedge funds and other institutional investors.
For $2.64 per share, trading in MAXN stock was initiated on Wednesday of this week. The simple moving average over the past fifty days for the company is $20.25, and the simple moving average over the past two hundred days is $19.10. During the last year and a half, the cost of a share of Maxeon Solar Technologies, Ltd. has ranged anywhere from $7.48 to $27.99, with an average price of $27.99. The debt-to-equity ratio is 2.90, the quick ratio is 0.82, and the current ratio is 1.35. The debt-to-equity ratio is higher than the quick ratio and lower than the current ratio. The company’s market capitalization is currently valued at $1.02 billion, its price-to-earnings ratio stands at -3.48, and its beta stands at 1.13.
Maxeon Solar Technologies (NASDAQ: MAXN) announced the outcomes of its most recent quarterly financial report on Thursday, November 10th. The company announced that it had earnings per share for the quarter of 1.09%, which is $0.54 more than the average estimate of $1.63%. Both a negative return on equity of 116.75% and a negative net margin of 27.67% was reported by Maxeon Solar Technologies. Both of these numbers were negative. According to the analysts’ projections, the amount of revenue the company will bring in during the quarter could fall between $277.75 million and $275.45 million. The majority opinion of financial market analysts is that Maxeon Solar Technologies, Ltd. will finish the current fiscal year with a loss of -6.03 cents per share.
Separately, on Wednesday, January 4th, Raymond James raised its rating on shares of Maxeon Solar Technologies from “market perform” to “outperform” and established a price objective of $22.00 for the company. This information was included in a report that the company published. Only one of the analysts has recommended that shareholders maintain their current holdings in the company, while the other four have given it a buy rating. The information presented on Bloomberg.com indicates that the company’s current price target is $24.40, and the average investment recommendation is a “Moderate Buy.