Maxwell Technologies, Inc. (MXWL) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Maxwell Technologies, Inc. (NASDAQ:MXWL) from a buy rating to a hold rating in a report released on Tuesday morning.
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. 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. Moreover, 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. 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.”
Other analysts also recently issued research reports about the stock. Cowen and Company reissued a buy rating and set a $8.00 target price on shares of Maxwell Technologies in a research report on Sunday, September 10th. Piper Jaffray Companies reissued a buy rating and set a $7.00 target price on shares of Maxwell Technologies in a research report on Thursday, August 10th. Roth Capital set a $6.00 target price on shares of Maxwell Technologies and gave the stock a hold rating in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Finally, Canaccord Genuity reissued a hold rating and set a $7.00 target price on shares of Maxwell Technologies in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Maxwell Technologies has a consensus rating of Hold and an average price target of $7.00.
Shares of Maxwell Technologies (MXWL) traded up 1.20% on Tuesday, hitting $5.04. 107,480 shares of the company were exchanged. The company has a 50-day moving average price of $5.44 and a 200 day moving average price of $5.71. Maxwell Technologies has a 52-week low of $4.39 and a 52-week high of $6.61. The firm’s market cap is $179.05 million.
Maxwell Technologies (NASDAQ:MXWL) last posted its earnings results on Monday, August 7th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.06. The firm had revenue of $37.10 million during the quarter, compared to the consensus estimate of $33.99 million. Maxwell Technologies had a negative net margin of 34.18% and a negative return on equity of 30.83%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. Analysts predict that Maxwell Technologies will post ($0.61) EPS for the current fiscal year.
A number of large investors have recently modified their holdings of MXWL. Royce & Associates LP grew its position in Maxwell Technologies by 11.1% in the second quarter. Royce & Associates LP now owns 1,041,242 shares of the electronics maker’s stock valued at $6,237,000 after acquiring an additional 104,000 shares in the last quarter. Vanguard Group Inc. grew its position in Maxwell Technologies by 8.3% in the first quarter. Vanguard Group Inc. now owns 1,284,150 shares of the electronics maker’s stock valued at $7,461,000 after acquiring an additional 98,580 shares in the last quarter. Neuberger Berman Group LLC grew its position in Maxwell Technologies by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 2,035,067 shares of the electronics maker’s stock valued at $11,824,000 after acquiring an additional 80,828 shares in the last quarter. State Street Corp grew its position 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 acquiring an additional 65,969 shares in the last quarter. Finally, Northern Trust Corp grew its position in Maxwell Technologies by 18.7% in the second quarter. Northern Trust Corp now owns 385,956 shares of the electronics maker’s stock valued at $2,312,000 after acquiring an additional 60,842 shares in the last quarter. 45.75% of the stock is owned by institutional investors.
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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