Zacks Investment Research Upgrades Maxwell Technologies Inc. (MXWL) to Hold
Maxwell Technologies Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released 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.”
Several other research firms also recently commented on MXWL. Canaccord Genuity reaffirmed a “hold” rating and set a $4.50 price objective on shares of Maxwell Technologies in a research note on Thursday, August 4th. Roth Capital set a $5.00 target price on Maxwell Technologies and gave the stock a “hold” rating in a research note on Monday, September 19th.
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Maxwell Technologies (NASDAQ:MXWL) traded up 2.99% during mid-day trading on Wednesday, reaching $5.17. The company’s stock had a trading volume of 47,053 shares. The stock’s market cap is $164.62 million. Maxwell Technologies has a 12-month low of $4.20 and a 12-month high of $8.04. The firm’s 50 day moving average price is $5.12 and its 200 day moving average price is $5.45.
Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.07. The company had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $35.08 million. Maxwell Technologies had a negative net margin of 5.05% and a negative return on equity of 10.45%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share. On average, equities analysts predict that Maxwell Technologies will post ($0.56) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. MSI Financial Services Inc increased 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 period. Rhumbline Advisers purchased a new position in Maxwell Technologies during the second quarter valued at $184,000. A.R.T. Advisors LLC purchased a new position in Maxwell Technologies during the second quarter valued at $194,000. Summit Securities Group LLC purchased a new position in Maxwell Technologies during the second quarter valued at $201,000. Finally, Teachers Advisors Inc. purchased a new position in Maxwell Technologies during the second quarter valued at $270,000. 54.49% of the stock is owned by institutional investors and hedge funds.
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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