Maxwell Technologies (NASDAQ:MXWL) Upgraded at Zacks Investment Research

Maxwell Technologies (NASDAQ:MXWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, November 14th. The brokerage presently has a $5.50 target price on the electronics maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 1.10% from the company’s previous close.

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.”

Other analysts have also recently issued reports about the stock. Canaccord Genuity reissued a “hold” rating and issued a $7.00 price objective on shares of Maxwell Technologies in a research note on Tuesday, August 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $7.00 price objective on shares of Maxwell Technologies in a research note on Thursday, August 10th. Roth Capital set a $6.00 price objective on shares of Maxwell Technologies and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Oppenheimer reissued a “hold” rating on shares of Maxwell Technologies in a research note on Tuesday, August 8th. Finally, ValuEngine cut shares of Maxwell Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Maxwell Technologies currently has a consensus rating of “Buy” and a consensus target price of $6.70.

Maxwell Technologies (MXWL) traded down $0.12 on Tuesday, reaching $5.44. 259,606 shares of the company’s stock traded hands, compared to its average volume of 460,512. 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 fifty-two week low of $4.29 and a fifty-two week high of $6.61.

Maxwell Technologies (NASDAQ:MXWL) last released its quarterly earnings results on Wednesday, November 8th. The electronics maker reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. The business had revenue of $35.80 million for the quarter, compared to the consensus estimate of $36.39 million. Maxwell Technologies had a negative net margin of 36.94% and a negative return on equity of 32.06%. The company’s quarterly revenue was up 40.4% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. equities analysts anticipate that Maxwell Technologies will post -0.84 EPS for the current year.

In related news, Director Jorg Buchheim bought 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average cost of $5.18 per share, with a total value of $1,295,000.00. Following the completion of the purchase, the director now owns 328,180 shares of the company’s stock, valued at approximately $1,699,972.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Franz Fink bought 230,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average cost of $4.98 per share, with a total value of $1,145,400.00. The disclosure for this purchase can be found here. Company insiders own 3.54% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC grew its stake 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 valued at $10,910,000 after acquiring an additional 175,641 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Maxwell Technologies by 22.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 74,050 shares of the electronics maker’s stock worth $380,000 after buying an additional 13,600 shares in the last quarter. Royce & Associates LP grew its stake in shares of Maxwell Technologies by 5.3% in the 3rd quarter. Royce & Associates LP now owns 1,096,242 shares of the electronics maker’s stock worth $5,624,000 after buying an additional 55,000 shares in the last quarter. Van Den Berg Management I Inc. grew its stake in shares of 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 buying an additional 127,680 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Maxwell Technologies in the 3rd quarter worth $107,000. 52.27% of the stock is 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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