Maxwell Technologies Inc. (Nasdaq:MXWL), a leading developer and manufacturer of ultracapacitor-based energy storage products, today announced that its ultracapacitor-based Engine Start Module (ESM) will be offered as a factory-installed option on new Kenworth T680 and T880 trucks. Kenworth dealers have offered the ESM as an aftermarket solution since 2011. With increasing demand for reliable truck engine starting, Kenworth is now the first original equipment manufacturer (OEM) to offer Maxwell's ESM as a factory-installed option.
The option to have an ESM pre-installed in new Kenworth trucks means fleet owners, operators and managers will enjoy the benefits of dedicated ultracapacitor power for dependable engine starting from day one. With batteries no longer required for this task, truck drivers can use truck accessories, such as lights and liftgates, without worrying about whether there is sufficient power remaining to crank the engine or if they will need to call for a jump-start.
Dr. Franz Fink, president and CEO of Maxwell, said, "Over the past three years, we've seen growing demand for Maxwell's Engine Start Module as an aftermarket part to help improve truck performance and reliability. Now, with our partnership with Kenworth to offer this technology in new trucks, customers can immediately benefit from this cost-effective option to reduce downtime and maintenance costs caused by discharged batteries."
Maxwell's ESM uses ultracapacitor technology to perform truck engine cranking in temperatures ranging from -40 degrees to +149 degrees Fahrenheit, even when batteries are drained. For more information about Maxwell's Engine Start Module products, please visit www.maxwell.com/esm.
Additional Maxwell Technologies information:
Shares of Maxwell opened today at $7.47 and are currently trading down at $7.34. 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 $7.16 and it's 200-day moving average is $8.79.
On the ratings front, Maxwell has been the subject of a number of recent research reports. In a report issued on February 6, Northland Securities analyst Noah Kaye downgraded MXWL to Hold, with a price target of $6, which implies a downside of 19.7% from current levels. Separately, on the same day, Canaccord Genuity's Jonathan Dorsheimer maintained a Buy rating on the stock and has a price target of $9.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Noah Kaye and Jonathan Dorsheimer have a total average return of -5.9% and -1.0% respectively. Kaye has a success rate of 60.0% and is ranked #2926 out of 3546 analysts while Dorsheimer has a success rate of 40.2% and is ranked #2891
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.