Maxwell Technologies (NASDAQ:MXWL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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 research analysts also recently commented on MXWL. ValuEngine upgraded Maxwell Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Cowen reissued a “buy” rating and issued a $8.00 price target on shares of Maxwell Technologies in a research note on Thursday, October 12th. Finally, Roth Capital set a $6.00 price target on Maxwell Technologies and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.90.
Shares of Maxwell Technologies (NASDAQ:MXWL) traded down $0.11 on Tuesday, reaching $6.05. The company 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 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 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 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 firm’s revenue was up 40.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. equities analysts predict that Maxwell Technologies will post -0.84 EPS for the current year.
In other Maxwell Technologies news, CEO Franz Fink purchased 230,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was bought at an average price of $4.98 per share, with a total value of $1,145,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorg Buchheim purchased 250,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average cost of $5.18 per share, with a total value of $1,295,000.00. Following the purchase, the director now 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. Corporate insiders own 3.54% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Institute for Wealth Management LLC. bought a new position in Maxwell Technologies during the second quarter valued at about $102,000. SG Americas Securities LLC bought a new position in Maxwell Technologies during the second quarter valued at about $107,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Maxwell Technologies during the third quarter valued at about $100,000. Trexquant Investment LP bought a new position in Maxwell Technologies during the third quarter valued at about $107,000. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Maxwell Technologies by 33.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 20,950 shares of the electronics maker’s stock valued at $125,000 after buying an additional 5,250 shares in the last quarter. 52.27% of the stock is owned by institutional investors and hedge funds.
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Maxwell Technologies Company Profile
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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