Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) shares fell 7.8% on Friday . The company traded as low as $17.61 and last traded at $18.03. 1,605,005 shares traded hands during trading, an increase of 75% from the average session volume of 918,695 shares. The stock had previously closed at $19.55.

A number of research firms recently weighed in on MAXN. The Goldman Sachs Group lowered shares of Maxeon Solar Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $18.00 to $15.00 in a report on Thursday, October 15th. Zacks Investment Research downgraded shares of Maxeon Solar Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, November 4th. Finally, Raymond James upgraded shares of Maxeon Solar Technologies from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Tuesday, November 10th.

The firm has a 50-day moving average price of $18.05.

Maxeon Solar Technologies (NASDAQ:MAXN) last issued its quarterly earnings data on Wednesday, November 18th. The company reported ($2.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.07) by ($0.67). Equities analysts forecast that Maxeon Solar Technologies, Ltd. will post -4.68 earnings per share for the current fiscal year.

Maxeon Solar Technologies Company Profile (NASDAQ:MAXN)

Maxeon Solar Technologies, Ltd. designs, manufactures, and sells solar panels under the SunPower brand name worldwide. The company is headquartered in Singapore. Maxeon Solar Technologies, Ltd. operates independently of SunPower Corporation as of August 26, 2020.

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