Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Sees Significant Decline in Short Interest

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 780,200 shares, a decrease of 20.8% from the February 13th total of 985,500 shares. Based on an average daily volume of 394,700 shares, the short-interest ratio is currently 2.0 days. Approximately 14.9% of the company’s stock are short sold.

Maxeon Solar Technologies Price Performance

MAXN traded down $0.03 on Wednesday, reaching $3.91. The company’s stock had a trading volume of 91,722 shares, compared to its average volume of 680,281. The business’s 50 day moving average is $5.22 and its 200 day moving average is $165.07. Maxeon Solar Technologies has a 1 year low of $2.68 and a 1 year high of $410.00. The stock has a market cap of $2.15 million, a price-to-earnings ratio of -0.01 and a beta of 1.38.

Institutional Trading of Maxeon Solar Technologies

Several hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd increased its position in shares of Maxeon Solar Technologies by 343.8% during the 3rd quarter. XTX Topco Ltd now owns 674,890 shares of the company’s stock valued at $65,000 after purchasing an additional 522,830 shares during the period. Verition Fund Management LLC acquired a new position in Maxeon Solar Technologies in the 3rd quarter valued at approximately $113,000. GSA Capital Partners LLP bought a new stake in Maxeon Solar Technologies during the 3rd quarter worth approximately $204,000. Cresset Asset Management LLC bought a new stake in Maxeon Solar Technologies during the 4th quarter worth approximately $154,000. Finally, Linden Advisors LP bought a new position in Maxeon Solar Technologies in the 4th quarter valued at $172,000. Institutional investors own 47.67% of the company’s stock.

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.