Oppenheimer analyst Noah Kaye maintained a Buy rating on Maxwell Technologies (MXWL) yesterday and set a price target of $5. The company’s shares closed yesterday at $3.24, close to its 52-week low of $2.84.
Kaye wrote:
“MXWL reported 3Q18 revenue in line and gross margins/net loss better than feared, while guiding 4Q sales and margins well below consensus on view to continued trade- related pressures in High-Voltage and select other end-markets. The company is exploring non-dilutive financing options, which we believe could include divestitures and/or licensing, as a bridge to the revenue growth it anticipates in 2H19. At the same time, management appeared incrementally constructive on prospects for (1) new business of material size involving power modules for auto applications and (2) an announcement for commercialization of MXWL’s dry battery electrode technology. While a challenging macro and liquidity risk lead us to reduce our estimates and price target, MXWL’s upside as an IP play keeps risk/reward attractive; maintain Outperform.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 4.1% and a 52.7% success rate. Kaye covers the Basic Materials sector, focusing on stocks such as Advanced Disposal Services Inc, Waste Connections Inc, and Republic Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Maxwell Technologies with a $5 average price target.
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Based on Maxwell Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.3 million. In comparison, last year the company had a GAAP net loss of $13.86 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MXWL in relation to earlier this year.
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Maxwell Technologies, Inc. engages in the development, manufacture, and marketing of energy storage and power delivery solutions. It operates through the following product lines: Ultracapacitors, High-Voltage Capacitors, and Radiation-Hardened Microelectronic Products.
