Maxwell Technologies Inc. (NASDAQ:MXWL), a leading producer of energy storage and power delivery solutions, announced today that it has obtained a three-year, $25 millionrevolving credit facility for working capital purposes, from East West Bank.
“We are very excited to have East West Bank as our new banking partner as their expertise in international banking, particularly in Greater China markets, tightly aligns with Maxwell’s banking needs. This new credit facility provides the company with the necessary financial flexibility to operate our business,” said David Lyle, Maxwell’s senior vice president and chief financial officer. (Original Source)
Shares of Maxwell Technologies closed last Thursday at $5.84. MXWL has a 1-year high of $15.19 and a 1-year low of $4.85. The stock’s 50-day moving average is $5.64 and its 200-day moving average is $7.05.
On the ratings front, Maxwell Technologies has been the subject of a number of recent research reports. In a report issued on June 17, Northland Securities analyst Noah Kaye upgraded MXWL to Buy, with a price target of $7, which implies an upside of 19.9% from current levels. Separately, on May 4, Piper Jaffray’s Alexander Potter 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 Alexander Potter have a total average return of -0.1% and -6.5% respectively. Kaye has a success rate of 50.0% and is ranked #2679 out of 3689 analysts, while Potter has a success rate of 39.3% and is ranked #3358.
The street is mostly Neutral on MXWL stock. Out of 4 analysts who cover the stock, 3 suggest a Hold rating and one recommend to Buy the stock.
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.