Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $7.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.90% from the stock’s previous close.
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.”
A number of other equities research analysts have also issued reports on the stock. ValuEngine raised shares of Maxwell Technologies from a “strong sell” rating to a “sell” rating in a research note 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 note on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Maxwell Technologies in a research note on Sunday, September 10th. Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price objective on shares of Maxwell Technologies in a research note on Tuesday, August 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Maxwell Technologies in a research note on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Maxwell Technologies presently has a consensus rating of “Hold” and a consensus price target of $7.00.
Shares of Maxwell Technologies (MXWL) traded up 4.84% on Monday, hitting $6.50. The company had a trading volume of 217,883 shares. The company’s market cap is $230.92 million. Maxwell Technologies has a 12-month low of $4.39 and a 12-month high of $6.55. The company has a 50 day moving average of $5.73 and a 200-day moving average of $5.74.
Maxwell Technologies (NASDAQ:MXWL) last issued its earnings results on Monday, August 7th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The company had revenue of $37.10 million during 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 for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) EPS. On average, analysts forecast that Maxwell Technologies will post ($0.61) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Institute for Wealth Management LLC. acquired a new position in Maxwell Technologies during the 2nd quarter worth $102,000. SG Americas Securities LLC acquired a new position in Maxwell Technologies during the 2nd quarter worth $107,000. American International Group Inc. lifted its position in Maxwell Technologies by 7.1% during the 1st quarter. American International Group Inc. now owns 19,390 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 1,277 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Maxwell Technologies by 33.4% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 20,950 shares of the electronics maker’s stock worth $125,000 after acquiring an additional 5,250 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new position in Maxwell Technologies during the 2nd quarter worth $128,000. 45.75% of the stock is owned by hedge funds and other institutional investors.
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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