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

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Maxeon Solar Technologies in a research report on Wednesday, October 8th. One 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 Stock Down 2.1%

The stock has a market capitalization of $1.78 million, a P/E ratio of -0.02 and a beta of 1.05. The company has a fifty day simple moving average of $3.31 and a two-hundred day simple moving average of $3.55.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Maxeon Solar Technologies stock. Mackenzie Financial Corp acquired a new position in shares of Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 reporting period. 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.