Zacks Investment Research upgraded shares of Maxwell Technologies (NASDAQ:MXWL) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $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.”
A number of other analysts also recently commented on the company. Roth Capital upgraded Maxwell Technologies from a neutral rating to a buy rating in a research report on Monday, November 20th. ValuEngine upgraded Maxwell Technologies from a sell rating to a hold rating in a research report on Wednesday, September 6th. Finally, Cowen restated a buy rating and issued a $8.00 price objective on shares of Maxwell Technologies in a research report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Maxwell Technologies has a consensus rating of Buy and an average price target of $6.90.
Maxwell Technologies (NASDAQ:MXWL) last posted its earnings results 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 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%. Maxwell Technologies’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. research analysts predict that Maxwell Technologies will post -0.84 EPS for the current fiscal year.
In related news, CEO Franz Fink acquired 230,000 shares of Maxwell Technologies 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorg Buchheim bought 250,000 shares of Maxwell Technologies stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average price of $5.18 per share, for a total transaction of $1,295,000.00. Following the completion of the transaction, the director now directly owns 328,180 shares of the company’s stock, valued at approximately $1,699,972.40. The disclosure for this purchase can be found here. 3.54% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXWL. Bradley Foster & Sargent Inc. CT purchased a new position in Maxwell Technologies during the third quarter worth about $1,580,000. Neuberger Berman Group LLC lifted its position in Maxwell Technologies by 9.0% during the third quarter. Neuberger Berman Group LLC now owns 2,126,701 shares of the electronics maker’s stock worth $10,910,000 after buying an additional 175,641 shares during the period. Van Den Berg Management I Inc. lifted its position in Maxwell Technologies by 6.7% during the third quarter. Van Den Berg Management I Inc. now owns 2,034,668 shares of the electronics maker’s stock worth $10,438,000 after buying an additional 127,680 shares during the period. Royce & Associates LP lifted its position in Maxwell Technologies by 11.1% during the second quarter. Royce & Associates LP now owns 1,041,242 shares of the electronics maker’s stock worth $6,237,000 after buying an additional 104,000 shares during the period. Finally, Vanguard Group Inc. lifted its position in Maxwell Technologies by 8.3% during the first quarter. Vanguard Group Inc. now owns 1,284,150 shares of the electronics maker’s stock worth $7,461,000 after buying an additional 98,580 shares during the period. Hedge funds and other institutional investors own 52.27% of the company’s stock.
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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