Maxwell Technologies, Inc. (NASDAQ:MXWL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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.”
Several other research analysts also recently commented on MXWL. Roth Capital set a $6.00 target price on Maxwell Technologies and gave the stock a “hold” rating in a report on Monday, July 31st. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 target price on shares of Maxwell Technologies in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reaffirmed 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 research note on Thursday, August 10th. Finally, ValuEngine raised Maxwell Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.00.
Maxwell Technologies (NASDAQ:MXWL) last announced its earnings results on Monday, August 7th. The electronics maker reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.06. The firm had revenue of $37.10 million for the quarter, compared to the consensus estimate of $33.99 million. Maxwell Technologies had a negative return on equity of 30.83% and a negative net margin of 34.18%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.13) EPS. On average, analysts expect that Maxwell Technologies will post ($0.61) earnings per share for the current year.
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Large investors have recently made changes to their positions in the company. Ironwood Investment Management LLC lifted its stake in shares of Maxwell Technologies by 4.7% in the 1st quarter. Ironwood Investment Management LLC now owns 47,778 shares of the electronics maker’s stock valued at $278,000 after purchasing an additional 2,160 shares during the period. Royce & Associates LP lifted its stake in shares of Maxwell Technologies by 11.1% in the 2nd quarter. Royce & Associates LP now owns 1,041,242 shares of the electronics maker’s stock valued at $6,237,000 after purchasing an additional 104,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Maxwell Technologies by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 1,284,150 shares of the electronics maker’s stock valued at $7,461,000 after purchasing an additional 98,580 shares during the period. KBC Group NV lifted its stake in shares of Maxwell Technologies by 56.4% in the 1st quarter. KBC Group NV now owns 81,951 shares of the electronics maker’s stock valued at $476,000 after purchasing an additional 29,541 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in shares of Maxwell Technologies by 4.1% in the 1st quarter. Neuberger Berman Group LLC now owns 2,035,067 shares of the electronics maker’s stock valued at $11,824,000 after purchasing an additional 80,828 shares during the period. 45.75% of the stock is currently owned by 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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