Maxwell Technologies Inc. (MXWL) Upgraded to Hold at Zacks Investment Research
Maxwell Technologies Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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 has also completed its restructuring initiatives, which called for focus on high-growth opportunities, the sale of non-core assets, consolidation of U.S. manufacturing units and a reduction in operating costs by lowering headcount. However, the company’s dependence on a limited number of customers and vertical markets remains a major challenge. Meanwhile, the uncertainty associated with the China bus market as well as short-term changes in the Chinese government's deployment strategy for wind turbines is affecting the company’s wind market revenues. It expects profitability to remain challenged during the transition phase of its business in the near term. A stronger U.S. dollar could impact its product sales in Asia and Europe as well.”
A number of other research firms have also commented on MXWL. Canaccord Genuity restated a “hold” rating and issued a $4.50 price target on shares of Maxwell Technologies in a research report on Thursday, August 4th. Roth Capital set a $5.00 price target on shares of Maxwell Technologies and gave the company a “hold” rating in a research report on Monday, September 19th.
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Maxwell Technologies (NASDAQ:MXWL) traded up 2.99% on Wednesday, hitting $5.17. 51,089 shares of the company were exchanged. Maxwell Technologies has a one year low of $4.20 and a one year high of $8.04. The stock has a 50 day moving average price of $5.12 and a 200 day moving average price of $5.45. The firm’s market cap is $164.62 million.
Maxwell Technologies (NASDAQ:MXWL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.07. The firm earned $34.10 million during the quarter, compared to analyst estimates of $35.08 million. Maxwell Technologies had a negative net margin of 5.05% and a negative return on equity of 10.45%. Maxwell Technologies’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, equities research analysts forecast that Maxwell Technologies will post ($0.56) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. MSI Financial Services Inc raised its position in shares of Maxwell Technologies by 5.4% in the third quarter. MSI Financial Services Inc now owns 19,500 shares of the company’s stock worth $101,000 after buying an additional 1,000 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Maxwell Technologies during the second quarter worth about $184,000. A.R.T. Advisors LLC bought a new position in shares of Maxwell Technologies during the second quarter worth about $194,000. Summit Securities Group LLC bought a new position in shares of Maxwell Technologies during the second quarter worth about $201,000. Finally, Teachers Advisors Inc. bought a new position in shares of Maxwell Technologies during the second quarter worth about $270,000. Institutional investors own 54.49% of the company’s stock.
Maxwell Technologies Company Profile
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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