Zacks Investment Research upgraded shares of Maxwell Technologies, Inc. (NASDAQ:MXWL) from a hold rating to a buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $6.50 price target 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.”
Several other equities analysts have also weighed in on the stock. ValuEngine raised shares of Maxwell Technologies from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Roth Capital set a $6.00 price objective on shares of Maxwell Technologies and gave the company a hold rating in a research report on Monday, July 31st. Canaccord Genuity reissued a hold rating and issued a $7.00 price objective on shares of Maxwell Technologies in a research 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 research report on Thursday, August 10th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $6.90.
Shares of Maxwell Technologies (MXWL) opened at 5.74 on Thursday. Maxwell Technologies has a 12 month low of $4.39 and a 12 month high of $6.48. The stock’s 50 day moving average is $5.71 and its 200 day moving average is $5.71. The firm’s market capitalization is $203.92 million.
Maxwell Technologies (NASDAQ:MXWL) last issued its quarterly earnings data on Monday, August 7th. The electronics maker reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.06. The company had revenue of $37.10 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($0.13) earnings per share. Equities research analysts forecast that Maxwell Technologies will post ($0.61) earnings per share 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 that occurred on Wednesday, June 14th. The shares were acquired at an average cost of $5.78 per share, with a total value of $346,800.00. Following the completion of the transaction, the director now owns 75,653 shares in the company, valued at $437,274.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.54% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in MXWL. Institute for Wealth Management LLC. acquired a new stake in Maxwell Technologies during the second quarter worth about $102,000. SG Americas Securities LLC acquired a new stake in Maxwell Technologies during the second quarter worth about $107,000. American International Group Inc. grew its stake in Maxwell Technologies by 7.1% during the first quarter. American International Group Inc. now owns 19,390 shares of the electronics maker’s stock worth $113,000 after buying an additional 1,277 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in Maxwell Technologies by 33.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 20,950 shares of the electronics maker’s stock worth $125,000 after buying an additional 5,250 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in Maxwell Technologies during the second quarter worth about $128,000. Hedge funds and other institutional investors own 45.86% of the company’s stock.
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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