Maxwell Technologies (MXWL) Given New $6.00 Price Target at Oppenheimer

Maxwell Technologies (NASDAQ:MXWL) had its price target cut by equities researchers at Oppenheimer from $7.00 to $6.00 in a research note issued to investors on Tuesday, August 7th. The firm presently has an “outperform” rating on the electronics maker’s stock. Oppenheimer’s price objective suggests a potential upside of 68.07% from the company’s current price.

Other research analysts also recently issued reports about the stock. Canaccord Genuity initiated coverage on shares of Maxwell Technologies in a research report on Friday, August 3rd. They issued a “hold” rating and a $5.00 price target on the stock. ValuEngine downgraded shares of Maxwell Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Zacks Investment Research downgraded shares of Maxwell Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Maxwell Technologies currently has a consensus rating of “Hold” and a consensus price target of $6.10.

Shares of NASDAQ MXWL traded down $0.05 on Tuesday, reaching $3.57. 423,200 shares of the company’s stock traded hands, compared to its average volume of 217,319. Maxwell Technologies has a 12 month low of $3.24 and a 12 month high of $6.61. The company has a market capitalization of $135.45 million, a price-to-earnings ratio of -3.98 and a beta of 0.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 2.21.

Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings results on Monday, August 6th. The electronics maker reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.04). Maxwell Technologies had a negative net margin of 34.65% and a negative return on equity of 33.83%. The firm had revenue of $29.46 million for the quarter, compared to analysts’ expectations of $30.90 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The company’s quarterly revenue was down 20.6% compared to the same quarter last year. analysts forecast that Maxwell Technologies will post -0.95 earnings per share for the current fiscal year.

In other Maxwell Technologies news, CEO Franz Fink acquired 400,000 shares of the company’s stock in a transaction on Friday, August 10th. The stock was acquired at an average cost of $3.25 per share, with a total value of $1,300,000.00. Following the purchase, the chief executive officer now directly owns 1,047,713 shares of the company’s stock, valued at approximately $3,405,067.25. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Lyle purchased 30,700 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were purchased at an average cost of $3.25 per share, with a total value of $99,775.00. Following the completion of the purchase, the chief financial officer now owns 166,500 shares in the company, valued at approximately $541,125. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 492,200 shares of company stock worth $1,599,650. 7.72% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. B. Riley Financial Inc. purchased a new position in shares of Maxwell Technologies during the 2nd quarter worth about $130,000. Jane Street Group LLC boosted its position in Maxwell Technologies by 331.4% in the 2nd quarter. Jane Street Group LLC now owns 87,129 shares of the electronics maker’s stock valued at $453,000 after buying an additional 124,787 shares during the period. PEAK6 Investments L.P. boosted its position in Maxwell Technologies by 273.0% in the 2nd quarter. PEAK6 Investments L.P. now owns 43,123 shares of the electronics maker’s stock valued at $224,000 after buying an additional 31,561 shares during the period. Bank of America Corp DE boosted its position in Maxwell Technologies by 24.3% in the 2nd quarter. Bank of America Corp DE now owns 96,355 shares of the electronics maker’s stock valued at $501,000 after buying an additional 18,845 shares during the period. Finally, Mak Capital One LLC boosted its position in Maxwell Technologies by 87.2% in the 2nd quarter. Mak Capital One LLC now owns 2,944,521 shares of the electronics maker’s stock valued at $15,312,000 after buying an additional 1,371,620 shares during the period. 63.46% 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 worldwide. The company provides ultracapacitor cells, multi-cell packs, modules, and subsystems that provide energy storage and power delivery solutions for applications in automotive, grid energy storage, wind, bus, industrial, and truck industries; and lithium-ion capacitors, which are energy storage devices designed to address various applications in the rail, grid, and industrial markets.

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Analyst Recommendations for Maxwell Technologies (NASDAQ:MXWL)

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