Short Interest in Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) Declines By 20.8%

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 780,200 shares, a decline of 20.8% from the February 13th total of 985,500 shares. Based on an average trading volume of 394,700 shares, the days-to-cover ratio is currently 2.0 days. Currently, 14.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Maxeon Solar Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd grew its stake in 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 acquiring an additional 522,830 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Maxeon Solar Technologies in the 3rd quarter valued at approximately $113,000. Cresset Asset Management LLC bought a new stake in shares of Maxeon Solar Technologies in the 4th quarter valued at approximately $154,000. Linden Advisors LP bought a new stake in shares of Maxeon Solar Technologies in the 4th quarter valued at approximately $172,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Maxeon Solar Technologies in the 3rd quarter valued at approximately $204,000. Hedge funds and other institutional investors own 47.67% of the company’s stock.

Maxeon Solar Technologies Trading Down 5.3 %

NASDAQ:MAXN traded down $0.22 on Tuesday, hitting $3.94. 127,600 shares of the company’s stock traded hands, compared to its average volume of 679,980. Maxeon Solar Technologies has a 1 year low of $2.68 and a 1 year high of $410.00. The firm has a 50-day moving average price of $5.22 and a 200-day moving average price of $165.07. The company has a market cap of $2.16 million, a PE ratio of -0.01 and a beta of 1.38.

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.