Mark Barnett, 50, of Ocala, Florida, was found guilty of attempted arson and other charges, federal prosecutors revealed Monday

The Florida man accused of trying to hire someone to place bombs on shelves of Target stores in an effort to drive down stock price has been found guilty.

Mark Barnett, 50, of Ocala, Florida, was found guilty of attempted arson and other charges, federal prosecutors revealed Monday.

Barnett now faces up to 40 years in prison. His sentencing hearing is scheduled for October 17.

Barnett, a registered sex offender, was arrested in February 2017 by task force of multiple state and federal agencies, including the ATF, FBI and Florida Department of Law Enforcement.

He was accused of constructing 10 bombs and disguising them inside food packaging, the Gainesville Sun reported.

According to the criminal complaint, Barnett attempted to recruit an informant to put the bombs on the shelves of 10 Target stores along the East Coast, including locations in New York, Florida and Virginia. The informant was supposedly offered $10,000 to carry out the plan.

Barnett's goal was said to be to detonate the bombs in the Target stores, forcing stock prices to fall, at which point he would buy the stocks at the lower price and then sell it on for a profit.

Authorities said Barnett made bombs disguised as food products and offered an informant $10,000 to put the bombs on the shelves of 10 Target stores along the East Coast (stock)

The supposed plot was said to be an effort to drive down Target stock prices, so that Barnett could buy them cheaply and then turn around and sell them at a profit (stock)

The bombs that Barnett allegedly made were said to be battery-powered, with the explosive powder being a mix of 'flash powder, black powder, and pyrotechnic stars.'

Authorities said that the informant gave the bombs he'd received from Barnett to the government agencies instead of putting them on store shelves.

At the time of his arrest, Barnett had been on conditional release supervision from state prison since 2013, FOX 13 reported.

He was wearing a GPS-enabled ankle monitor and was on probation for a 1992 case involving rape, kidnapping and theft.

In addition to being found guilty of attempted arson, he was also convicted of possession of an unregistered National Firearms Act destructive device and making an unregistered National Firearms Act destructive device.