Maxwell Technologies, Inc. (MXWL) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Maxwell Technologies, Inc. (NASDAQ:MXWL) from a hold rating to a buy rating in a report released on Thursday morning. They currently have $6.50 target price on the electronics maker’s stock.
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.”
Other research analysts have also issued research reports about the stock. Canaccord Genuity restated a hold rating and set a $7.00 price target on shares of Maxwell Technologies in a report on Tuesday, August 8th. Piper Jaffray Companies restated a buy rating and set a $7.00 price target on shares of Maxwell Technologies in a report on Thursday, August 10th. Roth Capital set a $6.00 price target on shares of Maxwell Technologies and gave the stock a hold rating in a report on Tuesday, August 8th. Oppenheimer Holdings Inc. restated a hold rating on shares of Maxwell Technologies in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Maxwell Technologies from a sell rating to a hold rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Maxwell Technologies has an average rating of Hold and a consensus target price of $6.50.
Shares of Maxwell Technologies (NASDAQ MXWL) traded down 1.21% on Thursday, reaching $5.73. 33,684 shares of the company were exchanged. The company’s 50-day moving average price is $5.72 and its 200 day moving average price is $5.71. The company’s market cap is $203.56 million. Maxwell Technologies has a 12 month low of $4.39 and a 12 month high of $6.48.
Maxwell Technologies (NASDAQ:MXWL) last released its quarterly earnings results on Monday, August 7th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $37.10 million during the quarter, compared to analyst estimates of $33.99 million. During the same quarter last year, the business earned ($0.13) EPS. The company’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts expect that Maxwell Technologies will post ($0.61) EPS for the current year.
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In other Maxwell Technologies news, Director Jorg Buchheim purchased 60,000 shares of Maxwell Technologies stock in a transaction that occurred on Wednesday, June 14th. The stock was acquired at an average price of $5.78 per share, with a total value of $346,800.00. Following the transaction, the director now owns 75,653 shares in the company, valued at approximately $437,274.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.54% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in Maxwell Technologies by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 63,951 shares of the electronics maker’s stock valued at $383,000 after purchasing an additional 600 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Maxwell Technologies by 15.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,408 shares of the electronics maker’s stock valued at $200,000 after acquiring an additional 4,539 shares in the last quarter. State Street Corp lifted its stake in Maxwell Technologies by 15.4% during the 2nd quarter. State Street Corp now owns 493,335 shares of the electronics maker’s stock valued at $2,956,000 after acquiring an additional 65,969 shares in the last quarter. Institute for Wealth Management LLC. bought a new position in Maxwell Technologies during the 2nd quarter valued at $102,000. Finally, Vanguard Group Inc. lifted its stake in Maxwell Technologies by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,375,329 shares of the electronics maker’s stock valued at $8,238,000 after acquiring an additional 91,179 shares in the last quarter. 45.86% of the stock is owned by institutional investors and hedge funds.
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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