Maxwell Technologies Rating Reiterated by Zacks (MXWL)
Maxwell Technologies (NASDAQ:MXWL)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Monday, Stock Ratings Network.com reports. They currently have a $8.75 target price on the stock. Zacks‘ target price points to a potential upside of 6.45% from the company’s current price.
Zacks‘ analyst wrote, “We maintain a Neutral recommendation on Maxwell Technologies Inc. The strong demand for hybrid electric buses has been driving the company’s growth. Moreover, the filing of the annual report on Form 10-K for the fiscal year ended Dec 31, 2012, and form 10-Q for the first and second quarters of 2013 have removed the overhang to trade on NASDAQ. The top and the bottom line was above the Zacks Consensus Estimate during the second quarter of 2013. Going forward, we expect the top line to continue to grow driven by the expected increase in ultracapacitor sales through a production ramp-up for automotives, installation of ultracapacitor electrode fabrication lines, as well as its focus on improving its cost structure. However, we remain concerned due to the company’s dependence on third parties for manufacturing and logistics operations, dependence on the Chinese government for subsidies, foreign currency risks and licensing law hurdles.”
A number of other analysts have also recently weighed in on MXWL. Analysts at Piper Jaffray Cos. downgraded shares of Maxwell Technologies from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday, September 19th. Finally, analysts at Roth Capital raised their price target on shares of Maxwell Technologies from $7.00 to $8.50 in a research note to investors on Friday, August 2nd. They now have a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating, Maxwell Technologies currently has an average rating of “Hold” and an average price target of $8.69.
Shares of Maxwell Technologies (NASDAQ:MXWL) traded down 4.50% on Monday, hitting $7.85. 243,996 shares of the company’s stock traded hands. Maxwell Technologies has a 52 week low of $4.90 and a 52 week high of $11.08. The stock’s 50-day moving average is $8.88 and its 200-day moving average is $7.60. The company has a market cap of $226.5 million and a price-to-earnings ratio of 21.24.
Maxwell Technologies, Inc (NASDAQ:MXWL) develops, manufactures and markets energy storage and power delivery products for transportation, industrial, telecommunications and other applications and microelectronic products for space and satellite applications.
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