Maxwell Technologies, Inc. (MXWL) Stock Rating Upgraded by Zacks Investment Research
Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $6.25 price objective on the electronics maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.01% from the company’s previous close.
According to Zacks, “Maxwell’s adjusted loss per share in the second quarter of 2017 was narrower than the Zacks Consensus Estimate of loss. On the other hand, the company’s top-line figure exceeded the Zacks Consensus Estimate. However, year-over-year results were mixed with the quarterly loss having widened and improved revenues. Nevertheless, 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. Moreover, Maxwell's share price has outperformed the broader industry over the last one year. However, short-term changes in the Chinese government's deployment strategy for wind turbines is affecting Maxwell’s wind market revenues.”
MXWL has been the subject of a number of other reports. ValuEngine raised shares of Maxwell Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Roth Capital set a $6.00 price objective on shares of Maxwell Technologies and gave the stock a “hold” rating in a report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Maxwell Technologies in a report on Tuesday, August 8th. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 price objective on shares of Maxwell Technologies in a report on Tuesday, August 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $7.00 price objective on shares of Maxwell Technologies in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.45.
Maxwell Technologies (MXWL) opened at 5.63 on Wednesday. The company’s 50 day moving average price is $5.78 and its 200 day moving average price is $5.66. Maxwell Technologies has a 52-week low of $4.39 and a 52-week high of $6.48. The company’s market cap is $200.01 million.
Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings data on Monday, August 7th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. Maxwell Technologies had a negative net margin of 34.18% and a negative return on equity of 30.83%. The company had revenue of $37.10 million during the quarter, compared to the consensus estimate of $33.99 million. During the same period in the previous year, the firm posted ($0.13) EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts anticipate that Maxwell Technologies will post ($0.61) EPS for the current fiscal year.
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In other Maxwell Technologies news, Director Jorg Buchheim purchased 60,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was acquired 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 directly owns 75,653 shares of the company’s stock, valued at approximately $437,274.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.54% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MXWL. California State Teachers Retirement System increased its stake in Maxwell Technologies by 0.9% in the second quarter. California State Teachers Retirement System now owns 63,951 shares of the electronics maker’s stock valued at $383,000 after buying an additional 600 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Maxwell Technologies by 15.7% in the second quarter. The Manufacturers Life Insurance Company now owns 33,408 shares of the electronics maker’s stock valued at $200,000 after buying an additional 4,539 shares in the last quarter. State Street Corp increased its stake in Maxwell Technologies by 15.4% in the second quarter. State Street Corp now owns 493,335 shares of the electronics maker’s stock valued at $2,956,000 after buying an additional 65,969 shares in the last quarter. Institute for Wealth Management LLC. acquired a new stake in Maxwell Technologies during the second quarter valued at $102,000. Finally, Vanguard Group Inc. increased its stake in Maxwell Technologies by 7.1% in the second 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. 46.07% of the stock is owned by institutional investors and hedge funds.
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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