American International Group Inc. boosted its position in shares of Maxwell Technologies, Inc. (NASDAQ:MXWL) by 7.1% during the first quarter, Holdings Channel reports. The institutional investor owned 19,390 shares of the electronics maker’s stock after buying an additional 1,277 shares during the period. American International Group Inc.’s holdings in Maxwell Technologies were worth $113,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in MXWL. Russell Investments Group Ltd. purchased a new stake in Maxwell Technologies during the fourth quarter worth $440,000. State Street Corp raised its stake in Maxwell Technologies by 16.0% in the fourth quarter. State Street Corp now owns 422,491 shares of the electronics maker’s stock worth $2,164,000 after buying an additional 58,323 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in Maxwell Technologies during the fourth quarter worth $204,000. Bank of New York Mellon Corp raised its stake in Maxwell Technologies by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 238,288 shares of the electronics maker’s stock worth $1,385,000 after buying an additional 14,819 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Maxwell Technologies by 139.0% in the first quarter. Parametric Portfolio Associates LLC now owns 95,195 shares of the electronics maker’s stock worth $553,000 after buying an additional 55,359 shares in the last quarter. Institutional investors and hedge funds own 46.30% of the company’s stock.
Shares of Maxwell Technologies, Inc. (MXWL) opened at 5.87 on Thursday. The stock’s market cap is $208.54 million. Maxwell Technologies, Inc. has a one year low of $4.39 and a one year high of $6.48. The stock’s 50 day moving average is $5.86 and its 200-day moving average is $5.61.
Maxwell Technologies (NASDAQ:MXWL) last posted its quarterly earnings data on Monday, August 7th. The electronics maker reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.06. Maxwell Technologies had a negative net margin of 34.18% and a negative return on equity of 31.66%. The firm had revenue of $37.10 million for the quarter, compared to the consensus estimate of $33.99 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Maxwell Technologies, Inc. will post ($0.61) EPS for the current year.
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MXWL has been the subject of a number of analyst reports. Cowen and Company restated a “neutral” rating and set a $6.00 price objective (down from $7.00) on shares of Maxwell Technologies in a research note on Friday, April 14th. Roth Capital restated a “neutral” rating and set a $6.00 price objective on shares of Maxwell Technologies in a research note on Friday, April 14th. Zacks Investment Research lowered shares of Maxwell Technologies from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. ValuEngine raised shares of Maxwell Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $7.00 price target on shares of Maxwell Technologies in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Maxwell Technologies currently has an average rating of “Hold” and an average price target of $6.50.
In related news, Director Jorg Buchheim acquired 60,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were purchased at an average price of $5.78 per share, for a total transaction of $346,800.00. Following the completion of the acquisition, the director now directly owns 75,653 shares in the company, valued at approximately $437,274.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.54% of the company’s stock.
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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