Company Update (NASDAQ:MXWL): Maxwell Technologies Appoints Michael Finger Senior Vice President Of Global Sales

Maxwell Technologies, Inc. (Nasdaq:MXWL) announced that Michael Finger has joined the company as senior vice president of global sales.

Immediately prior to joining Maxwell, Finger was vice president, global sales and marketing, for TT Electronics, a global electronics company supplying components and services to the world’s leading manufacturers in the transportation, industrial, aerospace, defense and medical markets. Previously, he held a series of senior sales and management positions with Hella KGaA Huek & Co., a global tier-1 supplier of lighting technology and electronic products for the automobile industry. He holds a bachelor’s degree in mechanical engineering from the University of Applied Science in Aachen, Germany.

“Michael’s extensive international sales and management experience, including 15 years focusing primarily on the automotive industry, gives him excellent credentials to energize our global sales organization,” said Dr.Franz Fink, Maxwell’s president and CEO. “We will look to him to lead and build a market-focused, customer-centric, sales team to continue driving sales growth with existing customers and expand our customer base in the U.S., Europe and Asia.”

“I am excited to join Maxwell’s management team in leveraging the company’s world-class energy storage technology and operational capabilities to deliver differentiating solutions for a variety of global transportation and energy grid applications to address the challenges of meeting escalating worldwide energy demand while reducing harmful emissions,” Finger said.

Shares of Maxwell Technologies closed last Friday at $7.54 . MXWL has a 1-year high of $18.43 and a 1-year low of $6.29. The stock’s 50-day moving average is $7.53 and it’s 200-day moving average is $9.09.

On the ratings front, Maxwell Technologies has been the subject of a number of recent research reports. In a report issued on February 6, Canaccord Genuity analyst Jonathan Dorsheimer maintained a Buy rating on MXWL, with a price target of $9, which implies an upside of 19.4% from current levels. Separately, on the same day, Northland Securities’ Noah Kaye downgraded the stock to Hold and has a price target of $6.

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.

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