Maxwell Technologies, Inc. (MXWL) Stock Rating Upgraded by 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 note issued on Tuesday. The brokerage currently has a $5.50 target price on the electronics maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.70% from the company’s current price.
According to Zacks, “Maxwell reported narrower-than-expected loss in the third quarter of 2017, while revenues missed the Zacks Consensus Estimate. The company continues to lead 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. This product line provides the company’s foundational cash flow and also the opportunity for steady long-term growth in the solid $150 million addressable market by 2021. Further, research and development forms an integral part of the company’s growth strategy. However, short-term changes in the Chinese government’s deployment strategy for wind turbines are affecting Maxwell’s wind market revenues.”
A number of other research firms have also issued reports on MXWL. Canaccord Genuity reiterated a “hold” rating and issued a $7.00 target price on shares of Maxwell Technologies in a research note on Tuesday, August 8th. Cowen and Company reiterated a “buy” rating and issued a $8.00 target price on shares of Maxwell Technologies in a research note on Thursday, October 12th. ValuEngine lowered shares of Maxwell Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Roth Capital set a $6.00 target price on shares of Maxwell Technologies and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Maxwell Technologies in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Maxwell Technologies presently has an average rating of “Hold” and a consensus price target of $6.70.
Shares of Maxwell Technologies (NASDAQ MXWL) traded up $0.33 on Tuesday, hitting $4.88. 512,400 shares of the stock traded hands, compared to its average volume of 208,260. Maxwell Technologies has a 52 week low of $4.29 and a 52 week high of $6.61.
Maxwell Technologies (NASDAQ:MXWL) last announced its quarterly earnings results on Wednesday, November 8th. The electronics maker reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. Maxwell Technologies had a negative net margin of 36.94% and a negative return on equity of 32.50%. The company had revenue of $35.80 million for the quarter, compared to analyst estimates of $36.39 million. During the same quarter in the prior year, the business posted ($0.21) EPS. Maxwell Technologies’s quarterly revenue was up 40.4% on a year-over-year basis. research analysts forecast that Maxwell Technologies will post -0.85 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of MXWL. Bradley Foster & Sargent Inc. CT bought a new stake in Maxwell Technologies in the 3rd quarter valued at $1,580,000. Van Den Berg Management I Inc. boosted its holdings in Maxwell Technologies by 6.7% in the 3rd quarter. Van Den Berg Management I Inc. now owns 2,034,668 shares of the electronics maker’s stock valued at $10,438,000 after purchasing an additional 127,680 shares during the period. Royce & Associates LP boosted its holdings in Maxwell Technologies by 11.1% in the 2nd quarter. Royce & Associates LP now owns 1,041,242 shares of the electronics maker’s stock valued at $6,237,000 after purchasing an additional 104,000 shares during the period. Vanguard Group Inc. boosted its holdings in Maxwell Technologies by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 1,284,150 shares of the electronics maker’s stock valued at $7,461,000 after purchasing an additional 98,580 shares during the period. Finally, State Street Corp boosted its holdings in Maxwell Technologies by 15.4% in the 2nd quarter. State Street Corp now owns 493,335 shares of the electronics maker’s stock valued at $2,956,000 after purchasing an additional 65,969 shares during the period. 46.62% of the stock is owned by hedge funds and other 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.
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