Maxwell Technologies, Inc. (MXWL) Downgraded to Hold at Zacks Investment Research
Maxwell Technologies, Inc. (NASDAQ:MXWL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. Again, the company's share price underperformed the broader industry in the last year.”
Several other research analysts have also recently issued reports on MXWL. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Maxwell Technologies in a report on Tuesday, August 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $7.00 target price on shares of Maxwell Technologies in a report on Thursday, August 10th. Roth Capital set a $6.00 target price on shares of Maxwell Technologies and gave the stock a “hold” rating in a report on Tuesday, August 8th. Cowen and Company reiterated a “buy” rating and set a $8.00 target price on shares of Maxwell Technologies in a report on Sunday. Finally, Canaccord Genuity reiterated a “hold” rating and set a $7.00 target price on shares of Maxwell Technologies in a report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.90.
Maxwell Technologies (NASDAQ MXWL) traded up 3.63% during midday trading on Thursday, reaching $6.14. 310,871 shares of the company traded hands. The company has a 50 day moving average price of $5.72 and a 200-day moving average price of $5.74. The stock’s market capitalization is $217.95 million. Maxwell Technologies has a one year low of $4.39 and a one year high of $6.48.
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 Thomson Reuters’ consensus estimate of ($0.21) by $0.06. Maxwell Technologies had a negative net margin of 34.18% and a negative return on equity of 30.83%. The company had revenue of $37.10 million for the quarter, compared to analysts’ expectations of $33.99 million. During the same period in the prior year, the business earned ($0.13) EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that Maxwell Technologies will post ($0.61) EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in MXWL. Bank of New York Mellon Corp boosted its holdings in shares of Maxwell Technologies by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 238,288 shares of the electronics maker’s stock valued at $1,385,000 after buying an additional 14,819 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Maxwell Technologies by 139.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 95,195 shares of the electronics maker’s stock valued at $553,000 after buying an additional 55,359 shares in the last quarter. KBC Group NV boosted its holdings in shares of Maxwell Technologies by 56.4% in the 1st quarter. KBC Group NV now owns 81,951 shares of the electronics maker’s stock valued at $476,000 after buying an additional 29,541 shares in the last quarter. Van Den Berg Management I Inc. boosted its holdings in shares of Maxwell Technologies by 10.9% in the 1st quarter. Van Den Berg Management I Inc. now owns 1,924,398 shares of the electronics maker’s stock valued at $11,181,000 after buying an additional 188,447 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Maxwell Technologies by 7.1% in the 1st 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 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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