Zacks Investment Research lowered shares of Maxwell Technologies (NASDAQ:MXWL) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Maxwell continues to lead 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. This product line provides the company’s foundational cash flow and also the opportunity for steady long-term growth in the solid $150 million addressable market by 2021. Further, research and development forms an integral part of the company’s growth strategy. However, short-term changes in the Chinese government’s deployment strategy for wind turbines are affecting Maxwell’s wind market revenues. This may have led the company to underperform its broader industry in past one year. Moreover, a major challenge for Maxwell is its dependence on a limited number of customers and vertical markets.”

Several other analysts also recently issued reports on the company. Roth Capital upgraded Maxwell Technologies from a neutral rating to a buy rating in a report on Monday, November 20th. ValuEngine upgraded Maxwell Technologies from a sell rating to a hold rating in a report on Wednesday, September 6th. Finally, Cowen reiterated a buy rating and issued a $8.00 target price on shares of Maxwell Technologies in a report on Thursday, October 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Maxwell Technologies presently has an average rating of Buy and an average target price of $6.90.

Maxwell Technologies (MXWL) remained flat at $$5.74 during midday trading on Tuesday. The stock had a trading volume of 125,000 shares, compared to its average volume of 130,200. The company has a current ratio of 2.57, a quick ratio of 1.86 and a debt-to-equity ratio of 0.28. The stock has a market cap of $212.82, a price-to-earnings ratio of -4.25 and a beta of 0.26. Maxwell Technologies has a 52 week low of $4.29 and a 52 week high of $6.61.

Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings data on Wednesday, November 8th. The electronics maker reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The firm had revenue of $35.80 million for the quarter, compared to the consensus estimate of $36.39 million. Maxwell Technologies had a negative return on equity of 32.06% and a negative net margin of 36.94%. The business’s revenue for the quarter was up 40.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) EPS. analysts anticipate that Maxwell Technologies will post -0.84 earnings per share for the current year.

In other news, CEO Franz Fink purchased 230,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $4.98 per share, with a total value of $1,145,400.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorg Buchheim purchased 250,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average cost of $5.18 per share, with a total value of $1,295,000.00. Following the purchase, the director now owns 328,180 shares in the company, valued at approximately $1,699,972.40. The disclosure for this purchase can be found here. 3.54% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its stake in shares of Maxwell Technologies by 9.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,126,701 shares of the electronics maker’s stock valued at $10,910,000 after buying an additional 175,641 shares in the last quarter. Van Den Berg Management I Inc. grew its stake in shares of Maxwell Technologies by 6.7% in the 3rd quarter. Van Den Berg Management I Inc. now owns 2,034,668 shares of the electronics maker’s stock valued at $10,438,000 after buying an additional 127,680 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Maxwell Technologies by 7.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,375,329 shares of the electronics maker’s stock valued at $8,238,000 after buying an additional 91,179 shares in the last quarter. Royce & Associates LP boosted its position in Maxwell Technologies by 5.3% during the third quarter. Royce & Associates LP now owns 1,096,242 shares of the electronics maker’s stock worth $5,624,000 after purchasing an additional 55,000 shares during the period. Finally, State Street Corp boosted its position in Maxwell Technologies by 15.4% during the second quarter. State Street Corp now owns 493,335 shares of the electronics maker’s stock worth $2,956,000 after purchasing an additional 65,969 shares during the period. 52.27% of the stock is owned by institutional investors and hedge funds.

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Maxwell Technologies Company Profile

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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