Maxwell Technologies (MXWL) Releases Earnings Results

Maxwell Technologies (NASDAQ:MXWL) issued its quarterly earnings data on Tuesday. The electronics maker reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02, RTT News reports. The business had revenue of $33.70 million during the quarter, compared to the consensus estimate of $34.04 million. Maxwell Technologies had a negative net margin of 31.86% and a negative return on equity of 35.86%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Maxwell Technologies updated its Q4 2018 guidance to $-0.18–0.18 EPS and its Q4 guidance to ($0.18) EPS.

Shares of MXWL traded down $0.03 during mid-day trading on Thursday, hitting $3.05. 1,617 shares of the company were exchanged, compared to its average volume of 284,284. Maxwell Technologies has a 1-year low of $2.73 and a 1-year high of $6.27. The company has a quick ratio of 1.25, a current ratio of 2.21 and a debt-to-equity ratio of 0.40. The company has a market cap of $123.62 million, a PE ratio of -3.32 and a beta of 0.44.

A number of research analysts have weighed in on MXWL shares. ValuEngine upgraded shares of Maxwell Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Canaccord Genuity started coverage on shares of Maxwell Technologies in a research report on Friday, August 3rd. They issued a “hold” rating and a $5.00 price objective for the company. Oppenheimer decreased their price objective on shares of Maxwell Technologies from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, August 7th. Cowen reiterated a “buy” rating and issued a $7.00 price objective on shares of Maxwell Technologies in a research report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded shares of Maxwell Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Maxwell Technologies currently has an average rating of “Buy” and an average target price of $6.13.

In related news, Director Ilya Golubovich purchased 61,500 shares of Maxwell Technologies stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average price of $3.25 per share, for a total transaction of $199,875.00. Following the transaction, the director now directly owns 79,226 shares in the company, valued at $257,484.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David Lyle purchased 30,700 shares of Maxwell Technologies stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average price of $3.25 per share, with a total value of $99,775.00. Following the transaction, the chief financial officer now owns 166,500 shares in the company, valued at $541,125. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 492,200 shares of company stock valued at $1,599,650. Insiders own 7.72% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MXWL. Northern Trust Corp raised its position in shares of Maxwell Technologies by 2.5% during the 1st quarter. Northern Trust Corp now owns 387,077 shares of the electronics maker’s stock worth $2,295,000 after purchasing an additional 9,372 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Maxwell Technologies by 88.9% during the 1st quarter. JPMorgan Chase & Co. now owns 97,861 shares of the electronics maker’s stock worth $580,000 after purchasing an additional 46,055 shares during the last quarter. Millennium Management LLC raised its position in shares of Maxwell Technologies by 25.6% during the 1st quarter. Millennium Management LLC now owns 51,937 shares of the electronics maker’s stock worth $308,000 after purchasing an additional 10,582 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Maxwell Technologies during the 2nd quarter worth about $406,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Maxwell Technologies during the 2nd quarter worth about $125,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

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Maxwell Technologies Company Profile

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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Earnings History for Maxwell Technologies (NASDAQ:MXWL)

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