Zacks Investment Research downgraded shares of Maxwell Technologies, Inc. (NASDAQ:MXWL) from a buy rating to a hold rating in a research note issued to investors on Wednesday 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. 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. The company has underperformed the broder industry in last one year.”
A number of other equities research analysts have also issued reports on MXWL. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Maxwell Technologies in a report on Tuesday, August 8th. Piper Jaffray Companies reissued a buy rating and issued a $7.00 price objective on shares of Maxwell Technologies in a report on Thursday, August 10th. Roth Capital set a $6.00 price objective on shares of Maxwell Technologies and gave the company a hold rating in a report on Tuesday, August 8th. Canaccord Genuity reissued a hold rating and issued a $7.00 price objective on shares of Maxwell Technologies in a report on Tuesday, August 8th. Finally, ValuEngine raised shares of Maxwell Technologies from a strong sell rating to a sell rating in a report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Maxwell Technologies has a consensus rating of Hold and a consensus target price of $6.90.
Shares of Maxwell Technologies (NASDAQ:MXWL) opened at 5.74 on Wednesday. Maxwell Technologies has a 12-month low of $4.39 and a 12-month high of $6.48. The company’s market cap is $203.92 million. The stock has a 50 day moving average of $5.71 and a 200 day moving average of $5.71.
Maxwell Technologies (NASDAQ:MXWL) last announced its quarterly earnings data on Monday, August 7th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ 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 in the prior year, the firm posted ($0.13) earnings per share. Maxwell Technologies’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts predict that Maxwell Technologies will post ($0.61) earnings per share for the current fiscal year.
In related news, Director Jorg Buchheim bought 60,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were bought at an average price of $5.78 per share, with a total value of $346,800.00. Following the completion of the transaction, the director now directly owns 75,653 shares of the company’s stock, valued at approximately $437,274.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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 MXWL. Institute for Wealth Management LLC. acquired a new position in Maxwell Technologies in the second quarter valued at about $102,000. SG Americas Securities LLC acquired a new position in Maxwell Technologies in the second quarter valued at about $107,000. American International Group Inc. lifted its position in Maxwell Technologies by 7.1% in the first quarter. American International Group Inc. now owns 19,390 shares of the electronics maker’s stock valued at $113,000 after buying an additional 1,277 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Maxwell Technologies by 33.4% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 20,950 shares of the electronics maker’s stock valued at $125,000 after buying an additional 5,250 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new position in Maxwell Technologies in the second quarter valued at about $128,000. 45.86% of the stock is currently 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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