Maxwell Technologies, Inc. (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $5.50 price objective on the electronics maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.70% from the stock’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 analysts have also issued reports on MXWL. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $7.00 target price on shares of Maxwell Technologies in a research report on Thursday, August 10th. Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 target price on shares of Maxwell Technologies in a research report on Tuesday, August 8th. Roth Capital set a $6.00 target price on Maxwell Technologies and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Finally, ValuEngine lowered Maxwell Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently 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. The company’s stock had a trading volume of 512,400 shares, compared to its average volume of 208,260. 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 data on Wednesday, November 8th. The electronics maker reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.02. The company had revenue of $35.80 million for the quarter, compared to analysts’ expectations of $36.39 million. Maxwell Technologies had a negative return on equity of 32.50% and a negative net margin of 36.94%. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. sell-side analysts expect that Maxwell Technologies will post -0.85 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. Van Den Berg Management I Inc. increased its holdings in Maxwell Technologies by 6.7% in the third 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 buying an additional 127,680 shares during the last quarter. Vanguard Group Inc. increased its holdings in Maxwell Technologies by 7.1% in the second quarter. Vanguard Group Inc. now owns 1,375,329 shares of the electronics maker’s stock valued at $8,238,000 after buying an additional 91,179 shares during the last quarter. Royce & Associates LP increased its holdings in Maxwell Technologies by 5.3% in the third quarter. Royce & Associates LP now owns 1,096,242 shares of the electronics maker’s stock valued at $5,624,000 after buying an additional 55,000 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Maxwell Technologies by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 931,376 shares of the electronics maker’s stock valued at $5,411,000 after buying an additional 52,345 shares during the last quarter. Finally, State Street Corp increased its holdings in Maxwell Technologies by 15.4% in the second quarter. State Street Corp now owns 493,335 shares of the electronics maker’s stock valued at $2,956,000 after buying an additional 65,969 shares during the last quarter. 46.62% of the stock is owned by hedge funds and other institutional investors.
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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