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.
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.
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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