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Research analysts at Piper Jaffray dropped their target price on shares of Maxwell Technologies (NASDAQ:MXWL) from $22.00 to $18.00 in a report released on Friday. Piper Jaffray’s price target would indicate a potential upside of 84.62% from the stock’s previous close.

Maxwell Technologies (NASDAQ:MXWL) traded down 10.48% during mid-day trading on Friday, hitting $9.74. The stock had a trading volume of 2,158,763 shares. Maxwell Technologies has a one year low of $6.75 and a one year high of $18.43. The stock’s 50-day moving average is $14.09 and its 200-day moving average is $13.31. The company has a market cap of $282.9 million and a price-to-earnings ratio of 45.52.

Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.05. The company had revenue of $46.10 million for the quarter, compared to the consensus estimate of $45.86 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, analysts predict that Maxwell Technologies will post $0.25 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Maxwell Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Separately, analysts at Sidoti reiterated a “buy” rating on shares of Maxwell Technologies in a research note on Saturday, May 17th. They now have a $21.00 price target on the stock. Finally, analysts at Sidoti reiterated a “buy” rating on shares of Maxwell Technologies in a research note on Friday, May 9th. They now have a $21.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Maxwell Technologies presently has a consensus rating of “Buy” and an average target price of $17.83.

Maxwell Technologies, Inc (NASDAQ:MXWL) 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.

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