Solarmax Technology (NASDAQ:SMXT) Stock Price Up 6.5% – What’s Next?

Solarmax Technology, Inc. (NASDAQ:SMXT) was up 6.5% on Monday . The company traded as high as $0.6290 and last traded at $0.6250. Approximately 154,195 shares changed hands during trading, a decline of 44% from the average daily volume of 276,424 shares. The stock had previously closed at $0.5870.

Analysts Set New Price Targets

A number of research firms recently commented on SMXT. Weiss Ratings restated a “sell (e+)” rating on shares of Solarmax Technology in a research report on Thursday, January 22nd. Wall Street Zen upgraded Solarmax Technology to a “hold” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Solarmax Technology Stock Performance

The firm’s fifty day simple moving average is $0.69 and its 200 day simple moving average is $0.84. The stock has a market capitalization of $35.57 million, a price-to-earnings ratio of -4.81 and a beta of 0.63.

Solarmax Technology (NASDAQ:SMXT) last released its quarterly earnings results on Monday, April 6th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $46.57 million for the quarter.

Hedge Funds Weigh In On Solarmax Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMXT. Bank of America Corp DE increased its holdings in Solarmax Technology by 451.5% during the 4th quarter. Bank of America Corp DE now owns 22,695 shares of the company’s stock worth $37,000 after purchasing an additional 18,580 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Solarmax Technology by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock worth $271,000 after buying an additional 41,353 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Solarmax Technology during the second quarter worth about $51,000. Jane Street Group LLC bought a new position in shares of Solarmax Technology during the second quarter worth about $60,000. Finally, Two Sigma Investments LP bought a new position in shares of Solarmax Technology during the third quarter worth about $236,000.

Solarmax Technology Company Profile

SolarMax Technology, Inc, through its subsidiaries, operates as an integrated solar energy company in the United States and China. The company engages in the sale and installation of photovoltaic and battery backup systems; sale of LED systems; and identifying and procuring solar farm projects for resale to third parties, as well as provision of engineering, procuring, and construction services for solar farm projects. It serves residential, commercial, and government customers. SolarMax Technology, Inc was incorporated in 2008 and is headquartered in Riverside, California.