Zacks Investment Research downgraded shares of Maxwell Technologies, Inc. (NASDAQ:MXWL) from a buy rating to a hold rating in a report released on Wednesday.

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 is also making progress in the high-voltage capacitor market. Maxwell signed a joint development agreement with a leading global automotive OEM as well as a global tier one automotive supplier, to develop a specific electric vehicle platform. However, short-term changes in the Chinese government’s deployment strategy for wind turbines are affecting Maxwell’s wind market revenues. Moreover, Maxwell is witnessing significant competition and pricing pressure in the Chinese hybrid transit vehicle market. The company has underperformed the broder industry in last one year.”

A number of other equities analysts have also recently commented on MXWL. Canaccord Genuity reaffirmed a hold rating and issued a $7.00 price target on shares of Maxwell Technologies in a research note on Tuesday, August 8th. Piper Jaffray Companies reaffirmed a buy rating and issued a $7.00 price target on shares of Maxwell Technologies in a research note on Thursday, August 10th. Roth Capital set a $6.00 price target on Maxwell Technologies and gave the stock a hold rating in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Maxwell Technologies in a research note on Tuesday, August 8th. Finally, ValuEngine raised Maxwell Technologies from a strong sell rating to a sell rating in a research note on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $6.50.

Maxwell Technologies (MXWL) opened at 5.74 on Wednesday. The firm’s 50-day moving average price is $5.71 and its 200 day moving average price is $5.71. The firm’s market cap is $203.92 million. Maxwell Technologies has a 52 week low of $4.39 and a 52 week high of $6.48.

Maxwell Technologies (NASDAQ:MXWL) last released its earnings results on Monday, August 7th. The electronics maker reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.06. The company had revenue of $37.10 million during the quarter, compared to the consensus estimate of $33.99 million. Maxwell Technologies had a negative return on equity of 30.83% and a negative net margin of 34.18%. Maxwell Technologies’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) EPS. Equities analysts forecast that Maxwell Technologies will post ($0.61) earnings per share for the current fiscal year.

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In other Maxwell Technologies news, Director Jorg Buchheim bought 60,000 shares of Maxwell Technologies stock in a transaction dated Wednesday, June 14th. The shares were purchased at an average cost of $5.78 per share, with a total value of $346,800.00. Following the completion of the purchase, the director now owns 75,653 shares of the company’s stock, valued at $437,274.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.54% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Institute for Wealth Management LLC. purchased a new position in shares of Maxwell Technologies during the second quarter valued at approximately $102,000. SG Americas Securities LLC purchased a new position in shares of Maxwell Technologies during the second quarter valued at approximately $107,000. American International Group Inc. increased its stake in shares of Maxwell Technologies by 7.1% during the first quarter. American International Group Inc. now owns 19,390 shares of the electronics maker’s stock valued at $113,000 after buying an additional 1,277 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in shares of Maxwell Technologies by 33.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 20,950 shares of the electronics maker’s stock valued at $125,000 after buying an additional 5,250 shares during the period. Finally, Alliancebernstein L.P. purchased a new position in shares of Maxwell Technologies during the second quarter valued at approximately $128,000. 45.86% of the stock is currently owned by hedge funds and other institutional investors.

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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