Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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 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, Maxwell's share price has underperformed the Zacks categorized Electronics-Miscellaneous Components industry price over the last one year due to uncertainty associated with the China bus market as well as short-term changes in the Chinese government's deployment strategy for wind turbines, which is affecting Maxwell’s wind market revenues. Again, the company’s dependence on a limited number of customers and vertical markets remains a major challenge.”

Other equities research analysts also recently issued research reports about the stock. Roth Capital set a $6.00 target price on shares of Maxwell Technologies and gave the stock a “hold” rating in a research report on Monday, March 20th. Cowen and Company reaffirmed a “neutral” rating and issued a $6.00 target price (down previously from $7.00) on shares of Maxwell Technologies in a research report on Friday, April 14th. Finally, ValuEngine raised shares of Maxwell Technologies from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $5.50.

Maxwell Technologies (NASDAQ MXWL) traded down 0.34% during trading on Tuesday, hitting $5.85. The stock had a trading volume of 71,297 shares. The company’s market capitalization is $188.35 million. Maxwell Technologies has a 1-year low of $4.20 and a 1-year high of $6.48. The stock’s 50-day moving average price is $5.77 and its 200-day moving average price is $5.44.

Maxwell Technologies (NASDAQ:MXWL) last announced its quarterly earnings data on Tuesday, May 9th. The electronics maker reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Maxwell Technologies had a negative net margin of 24.18% and a negative return on equity of 27.94%. The company had revenue of $26.69 million during the quarter, compared to analyst estimates of $25.79 million. During the same period in the previous year, the business earned ($0.14) EPS. The firm’s revenue for the quarter was down 24.2% on a year-over-year basis. Analysts expect that Maxwell Technologies will post ($0.67) earnings per share for the current year.

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In other news, Director Jorg Buchheim bought 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was bought at an average price of $5.78 per share, with a total value of $346,800.00. Following the acquisition, the director now owns 75,653 shares of the company’s stock, valued at approximately $437,274.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.54% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MXWL. Dimensional Fund Advisors LP boosted its stake in shares of Maxwell Technologies by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 931,376 shares of the electronics maker’s stock valued at $5,411,000 after buying an additional 52,345 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Maxwell Technologies by 7.4% in the first quarter. Geode Capital Management LLC now owns 239,419 shares of the electronics maker’s stock valued at $1,391,000 after buying an additional 16,469 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Maxwell Technologies by 8.3% in the first quarter. Vanguard Group Inc. now owns 1,284,150 shares of the electronics maker’s stock valued at $7,461,000 after buying an additional 98,580 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Maxwell Technologies by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 2,035,067 shares of the electronics maker’s stock valued at $11,824,000 after buying an additional 80,828 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Maxwell Technologies by 7.1% in the first quarter. American International Group Inc. now owns 19,390 shares of the electronics maker’s stock valued at $113,000 after buying an additional 1,277 shares in the last quarter. Institutional investors and hedge funds own 46.27% of the company’s stock.

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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