Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $6.50 target price on the electronics maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 13.24% from the stock’s current price.
According to Zacks, “Maxwell’s adjusted loss per share in the second quarter of 2017 was narrower than the Zacks Consensus Estimate of loss. On the other hand, the company’s top-line figure exceeded the Zacks Consensus Estimate. However, year-over-year results were mixed with the quarterly loss having widened and improved revenues. Nevertheless, 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. Moreover, Maxwell's share price has outperformed the broader industry over the last one year. However, short-term changes in the Chinese government's deployment strategy for wind turbines is affecting Maxwell’s wind market revenues.”
MXWL has been the topic of a number of other reports. 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. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 target price on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $7.00 target price on shares of Maxwell Technologies in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.50.
Shares of Maxwell Technologies (NASDAQ:MXWL) opened at 5.74 on Monday. Maxwell Technologies has a 52 week low of $4.39 and a 52 week high of $6.48. The firm has a 50-day moving average of $5.86 and a 200 day moving average of $5.64. The firm’s market capitalization is $203.92 million.
Maxwell Technologies (NASDAQ:MXWL) last announced its quarterly earnings data on Monday, August 7th. The electronics maker reported ($0.15) 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 company had revenue of $37.10 million for the quarter, compared to the consensus estimate of $33.99 million. During the same period in the prior year, the firm posted ($0.13) EPS. The company’s quarterly 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 fiscal year.
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In related news, Director Jorg Buchheim bought 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were purchased at an average cost of $5.78 per share, with a total value of $346,800.00. Following 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 3.54% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MXWL. Highbridge Capital Management LLC acquired a new stake in shares of Maxwell Technologies during the fourth quarter worth $204,000. Ironwood Investment Management LLC boosted its stake in shares of Maxwell Technologies by 4.7% in the first quarter. Ironwood Investment Management LLC now owns 47,778 shares of the electronics maker’s stock worth $278,000 after buying an additional 2,160 shares in the last quarter. KBC Group NV boosted its stake in shares of Maxwell Technologies by 56.4% in the first quarter. KBC Group NV now owns 81,951 shares of the electronics maker’s stock worth $476,000 after buying an additional 29,541 shares in the last quarter. State Street Corp boosted its stake in shares of Maxwell Technologies by 16.0% in the fourth quarter. State Street Corp now owns 422,491 shares of the electronics maker’s stock worth $2,164,000 after buying an additional 58,323 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of 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 worth $11,824,000 after buying an additional 80,828 shares in the last quarter. 46.07% of the stock is currently 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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