Maxwell Technologies (MXWL) Beats, Shares Soar; Remains A Top Green Stocks Pick

Maxwell Technologies (MXWL) is having a great day today with a more than 15% surge after the company beat analyst estimates, posting robust quarter over quarter growth in the process.  The company reported an EPS of .06 on revenues of $38.5 million vs the analyst estimate for .01 in EPS on revenue of $37 million.  The company continues to experience rapid growth and that continued with quarter over quarter EPS and revenue growth of 200% and 30% respectively.  The company makes components for all kinds of green energy applications and remains a top pick in the green energy space. 

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"Rapidly increasing sales into stop-start idle elimination systems in micro hybrid autos and various backup power applications augmented continuing strong sales for wind turbine blade pitch systems and hybrid and electric transit vehicle drive systems to generate another record quarter for ultracapacitor sales," said David Schramm, Maxwell’s president and chief executive officer.

Outlook:  "We expect sequential top line growth of five to seven percent in the third quarter," Schramm said. "For the full year, we continue to expect that year-over-year top line growth will exceed 20 percent, and steadily improving operating performance should enable the company to be profitable on a non-GAAP basis going forward."

Technically, shares of MXWL are attempting to put in a bottom around that $14 level.  What I’m looking for is a retracement of about half of today’s move as an opportunity to begin initiating a position.

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