Zacks Investment Research lowered shares of Maxwell Technologies (NASDAQ:MXWL) from a buy rating to a hold rating in a report published on Tuesday morning.
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. However, short-term changes in the Chinese government’s deployment strategy for wind turbines are affecting Maxwell’s wind market revenues. This may have led the company to underperform its broader industry in last twelve months. A major challenge for Maxwell is its dependence on a limited number of customers.”
A number of other analysts also recently issued reports on the company. Roth Capital upgraded Maxwell Technologies from a neutral rating to a buy rating in a research report on Monday, November 20th. Cowen reiterated a buy rating and set a $8.00 price target on shares of Maxwell Technologies in a research report on Thursday, October 12th. Finally, ValuEngine upgraded Maxwell Technologies from a sell rating to a hold rating in a research report on Monday, November 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $6.90.
Shares of Maxwell Technologies (NASDAQ MXWL) traded down $0.11 on Tuesday, hitting $6.05. The stock had a trading volume of 171,352 shares, compared to its average volume of 246,441. The company has a market cap of $224.31, a P/E ratio of -4.45 and a beta of 0.25. The company has a current ratio of 2.57, a quick ratio of 1.86 and a debt-to-equity ratio of 0.28. Maxwell Technologies has a 12-month low of $4.29 and a 12-month high of $6.61.
Maxwell Technologies (NASDAQ:MXWL) last issued its quarterly 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 firm had revenue of $35.80 million during the quarter, compared to the consensus estimate of $36.39 million. Maxwell Technologies had a negative return on equity of 32.06% and a negative net margin of 36.94%. The company’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS. equities research analysts expect that Maxwell Technologies will post -0.84 EPS for the current year.
In other news, Director Jorg Buchheim acquired 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average cost of $5.18 per share, with a total value of $1,295,000.00. Following the acquisition, the director now owns 328,180 shares in the company, valued at approximately $1,699,972.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Franz Fink acquired 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $4.98 per share, for a total transaction of $1,145,400.00. The disclosure for this purchase can be found here. Company insiders own 3.54% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MXWL. Bradley Foster & Sargent Inc. CT purchased a new position in shares of Maxwell Technologies during the 3rd quarter valued at about $1,580,000. Neuberger Berman Group LLC increased its stake in Maxwell Technologies by 9.0% in 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 during the period. Van Den Berg Management I Inc. increased its stake 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 worth $10,438,000 after purchasing an additional 127,680 shares during the period. Vanguard Group Inc. increased its stake in Maxwell Technologies by 7.1% in 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 during the period. Finally, State Street Corp increased its stake in Maxwell Technologies by 15.4% in 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 during the period. 52.27% of the stock is currently owned by institutional investors.
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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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