Maxwell Technologies, Inc. (MXWL) Rating Increased to Hold at Zacks Investment Research
Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Maxwell leads the growing ultracapacitor market and benefits from increasing demand for its utility infrastructure, renewable energy, public transportation and space programs. It has also completed its restructuring initiatives, which called for focus on high-growth opportunities, the sale of non-core assets, consolidation of U.S. manufacturing units and a reduction in operating costs by lowering headcount. However, Maxwell's share price has underperformed the Zacks categorized Electronics-Miscellaneous Components industry price over the last one year due to uncertainty associated with the China bus market as well as short-term changes in the Chinese government's deployment strategy for wind turbines, which is affecting Maxwell’s wind market revenues. Again, the company’s dependence on a limited number of customers and vertical markets remains a major challenge.”
Several other analysts also recently issued reports on the company. ValuEngine upgraded Maxwell Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Roth Capital reiterated a “neutral” rating and set a $6.00 price target on shares of Maxwell Technologies in a research note on Friday, April 14th. Finally, Cowen and Company reiterated a “neutral” rating and set a $6.00 price target (down previously from $7.00) on shares of Maxwell Technologies in a research note on Friday, April 14th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Maxwell Technologies has a consensus rating of “Hold” and an average target price of $5.50.
Maxwell Technologies (NASDAQ MXWL) traded down 1.02% during trading on Tuesday, reaching $5.81. The company had a trading volume of 37,017 shares. The stock has a 50 day moving average of $5.77 and a 200-day moving average of $5.44. The company’s market capitalization is $187.06 million. Maxwell Technologies has a 12 month low of $4.20 and a 12 month high of $6.48.
Maxwell Technologies (NASDAQ:MXWL) last released its quarterly earnings results on Tuesday, May 9th. The electronics maker reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. The company had revenue of $26.69 million during the quarter, compared to the consensus estimate of $25.79 million. Maxwell Technologies had a negative return on equity of 27.94% and a negative net margin of 24.18%. The firm’s revenue was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) EPS. Equities research analysts expect that Maxwell Technologies will post ($0.67) EPS for the current fiscal year.
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In other Maxwell Technologies news, Director Jorg Buchheim bought 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was purchased at an average price of $5.78 per share, for a total transaction of $346,800.00. Following the purchase, the director now directly owns 75,653 shares in the company, valued at $437,274.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.54% of the company’s stock.
A number of hedge funds have recently made changes to their positions in MXWL. Russell Investments Group Ltd. acquired a new stake in shares of Maxwell Technologies during the fourth quarter valued at $440,000. State Street Corp increased its stake in shares of Maxwell Technologies by 16.0% in the fourth quarter. State Street Corp now owns 422,491 shares of the electronics maker’s stock valued at $2,164,000 after buying an additional 58,323 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Maxwell Technologies during the fourth quarter valued at $167,000. Highbridge Capital Management LLC acquired a new stake in shares of Maxwell Technologies during the fourth quarter valued at $204,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Maxwell Technologies by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 238,288 shares of the electronics maker’s stock valued at $1,385,000 after buying an additional 14,819 shares during the last quarter. Hedge funds and other institutional investors own 46.27% of the company’s stock.
About Maxwell Technologies
Maxwell Technologies, Inc develops, manufactures and markets energy storage and power delivery products for transportation, industrial, information technology and other applications and microelectronic products for space and satellite applications. The Company offers three product lines: Ultracapacitors, High-Voltage Capacitors and Radiation-Hardened Microelectronic Products.
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