Maxwell Technologies, Inc. (NASDAQ:MXWL) Lifted to Buy at Zacks Investment Research
Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $6.50 price objective on the electronics maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.84% from the company’s current price.
According to Zacks, “Maxwell’s adjusted loss per share in the second quarter of 2017 was narrower than the Zacks Consensus Estimate of loss. On the other hand, the company’s top-line figure exceeded the Zacks Consensus Estimate. However, year-over-year results were mixed with the quarterly loss having widened and improved revenues. Nevertheless, Maxwell leads the growing ultracapacitor market and benefits from increasing demand for its utility infrastructure, renewable energy, public transportation and space programs. It is also making progress in the high-voltage capacitor market. Moreover, Maxwell's share price has outperformed the broader industry over the last one year. However, short-term changes in the Chinese government's deployment strategy for wind turbines is affecting Maxwell’s wind market revenues.”
MXWL has been the subject of several other research reports. Piper Jaffray Companies reiterated a “buy” rating and set a $7.00 price objective on shares of Maxwell Technologies in a research note on Thursday. Roth Capital set a $6.00 price objective on shares of Maxwell Technologies and gave the stock a “hold” rating in a research note on Monday, July 31st. ValuEngine upgraded shares of Maxwell Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Maxwell Technologies in a research note on Tuesday, August 8th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $7.00 price objective on shares of Maxwell Technologies in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.50.
Maxwell Technologies (NASDAQ:MXWL) traded up 1.40% during midday trading on Monday, hitting $5.79. 74,379 shares of the stock were exchanged. Maxwell Technologies has a 12 month low of $4.39 and a 12 month high of $6.48. The company’s market cap is $205.70 million. The firm’s 50 day moving average price is $5.86 and its 200 day moving average price is $5.62.
Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings results on Monday, August 7th. The electronics maker reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. The business had revenue of $37.10 million during the quarter, compared to analyst estimates of $33.99 million. Maxwell Technologies had a negative net margin of 34.18% and a negative return on equity of 30.83%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) EPS. On average, equities research analysts forecast that Maxwell Technologies will post ($0.61) earnings per share for the current fiscal year.
In other news, Director Jorg Buchheim acquired 60,000 shares of Maxwell Technologies stock in a transaction that occurred on Wednesday, June 14th. The stock was purchased at an average price of $5.78 per share, for a total transaction of $346,800.00. Following the purchase, the director now directly owns 75,653 shares in the company, valued at approximately $437,274.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.54% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MXWL. Schwab Charles Investment Management Inc. increased its stake in Maxwell Technologies by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 123,779 shares of the electronics maker’s stock valued at $742,000 after buying an additional 741 shares in the last quarter. American International Group Inc. increased its stake in 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. Ironwood Investment Management LLC increased its stake in Maxwell Technologies by 4.7% in the first quarter. Ironwood Investment Management LLC now owns 47,778 shares of the electronics maker’s stock valued at $278,000 after buying an additional 2,160 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Maxwell Technologies by 33.4% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 20,950 shares of the electronics maker’s stock valued at $125,000 after buying an additional 5,250 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Maxwell Technologies by 16.4% in the second quarter. Janney Montgomery Scott LLC now owns 60,450 shares of the electronics maker’s stock valued at $362,000 after buying an additional 8,500 shares in the last quarter. 46.07% of the stock is currently owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Maxwell Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxwell Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.