Zacks Investment Research upgraded shares of Maxwell Technologies (NASDAQ:MXWL) from a hold rating to a buy rating in a research report sent to investors on Wednesday. The firm currently has $6.50 price target on the electronics maker’s stock.
According to Zacks, “Maxwell continues to lead the growing ultracapacitor market and benefits from increasing demand for its utility infrastructure, renewable energy, public transportation and space programs. The company’s Nesscap Energy buyout in 2017 is expected to further boost its ultracapacitor business. 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. This may have led the company to outperform its broader industry in last three months. However, short-term changes in the Chinese government’s deployment strategy for wind turbines are affecting Maxwell’s wind market revenues.”
MXWL has been the topic of a number of other reports. Cowen restated a buy rating and issued a $8.00 target price on shares of Maxwell Technologies in a report on Thursday, October 12th. Roth Capital set a $6.00 target price on shares of Maxwell Technologies and gave the company a hold rating in a report on Wednesday, November 1st. Finally, ValuEngine upgraded shares of Maxwell Technologies from a sell rating to a hold rating in a report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $6.90.
Maxwell Technologies (MXWL) remained flat at $$5.74 during trading hours on Wednesday. 120,022 shares of the stock were exchanged, compared to its average volume of 240,002. The company has a market capitalization of $212.82, a PE ratio of -4.25 and a beta of 0.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.86 and a current ratio of 2.57. Maxwell Technologies has a 52-week low of $4.29 and a 52-week high of $6.61.
Maxwell Technologies (NASDAQ:MXWL) last released its earnings results on Wednesday, November 8th. The electronics maker reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.02. The company had revenue of $35.80 million for the quarter, compared to analyst estimates of $36.39 million. Maxwell Technologies had a negative net margin of 36.94% and a negative return on equity of 32.06%. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. equities analysts anticipate that Maxwell Technologies will post -0.84 EPS for the current year.
In related news, CEO Franz Fink acquired 230,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average cost of $4.98 per share, for a total transaction of $1,145,400.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorg Buchheim acquired 250,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average price of $5.18 per share, for a total transaction of $1,295,000.00. Following the completion of the acquisition, the director now owns 328,180 shares in the company, valued at $1,699,972.40. The disclosure for this purchase can be found here. Corporate insiders own 3.54% of the company’s stock.
Several hedge funds have recently made changes to their positions in MXWL. Neuberger Berman Group LLC increased its position in Maxwell Technologies by 9.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,126,701 shares of the electronics maker’s stock worth $10,910,000 after purchasing an additional 175,641 shares in the last quarter. Van Den Berg Management I Inc. increased its position in Maxwell Technologies by 6.7% during the 3rd quarter. Van Den Berg Management I Inc. now owns 2,034,668 shares of the electronics maker’s stock worth $10,438,000 after purchasing an additional 127,680 shares in the last quarter. Vanguard Group Inc. increased its position in Maxwell Technologies by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,375,329 shares of the electronics maker’s stock worth $8,238,000 after purchasing an additional 91,179 shares in the last quarter. Royce & Associates LP increased its position in Maxwell Technologies by 5.3% during the 3rd quarter. Royce & Associates LP now owns 1,096,242 shares of the electronics maker’s stock worth $5,624,000 after purchasing an additional 55,000 shares in the last quarter. Finally, State Street Corp increased its position in 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 purchasing an additional 65,969 shares in the last quarter. Institutional investors and hedge funds own 52.27% of the company’s stock.
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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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