Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $6.50 price objective on the electronics maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.64% from the stock’s current price.

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 is also making progress in the high-voltage capacitor market. Maxwell signed a joint development agreement with a leading global automotive OEM as well as a global tier one automotive supplier, to develop a specific electric vehicle platform. However, short-term changes in the Chinese government’s deployment strategy for wind turbines are affecting Maxwell’s wind market revenues. Moreover, Maxwell is witnessing significant competition and pricing pressure in the Chinese hybrid transit vehicle market.”

Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $7.00 price target on shares of Maxwell Technologies in a report on Thursday, August 10th. ValuEngine upgraded shares of Maxwell Technologies from a “sell” rating to a “hold” rating in a report on Wednesday. Roth Capital set a $6.00 target price on shares of Maxwell Technologies and gave the company a “hold” rating in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $7.00 price target on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Maxwell Technologies currently has a consensus rating of “Hold” and an average price target of $6.50.

Maxwell Technologies (MXWL) traded up 0.87% during trading on Thursday, hitting $5.77. The stock had a trading volume of 14,433 shares. The stock’s market capitalization is $204.99 million. Maxwell Technologies has a 52-week low of $4.39 and a 52-week high of $6.48. The stock’s 50-day moving average is $5.72 and its 200-day moving average is $5.71.

Maxwell Technologies (NASDAQ:MXWL) last issued its earnings results on Monday, August 7th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.06. The firm had revenue of $37.10 million for the quarter, compared to analysts’ expectations of $33.99 million. Maxwell Technologies had a negative net margin of 34.18% and a negative return on equity of 30.83%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.13) earnings per share. On average, analysts predict that Maxwell Technologies will post ($0.61) earnings per share for the current fiscal year.

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In other Maxwell Technologies news, Director Jorg Buchheim purchased 60,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $5.78 per share, for a total transaction of $346,800.00. Following the purchase, the director now directly owns 75,653 shares of the company’s stock, valued at approximately $437,274.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.54% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MXWL. Van Den Berg Management I Inc. raised its holdings in shares of Maxwell Technologies by 10.9% during the 1st quarter. Van Den Berg Management I Inc. now owns 1,924,398 shares of the electronics maker’s stock worth $11,181,000 after acquiring an additional 188,447 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Maxwell Technologies by 11.1% during the 2nd quarter. Royce & Associates LP now owns 1,041,242 shares of the electronics maker’s stock worth $6,237,000 after acquiring an additional 104,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Maxwell Technologies by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 1,284,150 shares of the electronics maker’s stock worth $7,461,000 after acquiring an additional 98,580 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Maxwell Technologies by 4.1% during the 1st quarter. Neuberger Berman Group LLC now owns 2,035,067 shares of the electronics maker’s stock worth $11,824,000 after acquiring an additional 80,828 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Maxwell Technologies by 15.4% during the 2nd quarter. State Street Corp now owns 493,335 shares of the electronics maker’s stock worth $2,956,000 after acquiring an additional 65,969 shares in the last quarter. Institutional investors and hedge funds own 45.86% 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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Analyst Recommendations for Maxwell Technologies (NASDAQ:MXWL)

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