Maxwell Technologies Inc. (MXWL) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Maxwell leads the growing ultracapacitor market and benefits from increasing demand for utility infrastructure, renewable energy, public transportation, and space programs. It has completed restructuring initiatives, focusing on high-growth opportunities, selling non-core assets, consolidating the U.S. manufacturing units and reducing operating costs by lowering the headcount. However, the company’s dependence on a limited number of customers and vertical markets remains a major challenge. Meanwhile, its 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.”
Several other brokerages have also recently weighed in on MXWL. Canaccord Genuity reissued a hold rating and set a $4.50 price target on shares of Maxwell Technologies in a research report on Thursday, August 4th. Roth Capital set a $5.00 price objective on shares of Maxwell Technologies and gave the stock a hold rating in a report on Monday, September 19th.
Shares of Maxwell Technologies (NASDAQ:MXWL) opened at 4.99 on Tuesday. The company’s market cap is $159.63 million. Maxwell Technologies has a 1-year low of $4.20 and a 1-year high of $8.04. The stock has a 50 day moving average of $4.93 and a 200 day moving average of $5.17.
Several hedge funds and other institutional investors have recently modified their holdings of MXWL. MSI Financial Services Inc raised its position in shares of Maxwell Technologies by 5.4% in the third quarter. MSI Financial Services Inc now owns 19,500 shares of the company’s stock valued at $101,000 after buying an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Maxwell Technologies during the third quarter valued at about $132,000. Rhumbline Advisers acquired a new position in shares of Maxwell Technologies during the second quarter valued at about $184,000. A.R.T. Advisors LLC acquired a new position in shares of Maxwell Technologies during the second quarter valued at about $194,000. Finally, Summit Securities Group LLC acquired a new position in shares of Maxwell Technologies during the second quarter valued at about $201,000. Institutional investors own 50.70% of the company’s stock.
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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