Solarmax Technology (NASDAQ:SMXT) Trading Up 1.8% – Still a Buy?

Solarmax Technology, Inc. (NASDAQ:SMXT)’s stock price shot up 1.8% during trading on Thursday . The stock traded as high as $0.40 and last traded at $0.3541. 278,206 shares changed hands during mid-day trading, an increase of 58% from the average daily volume of 175,738 shares. The stock had previously closed at $0.3478.

Analyst Ratings Changes

SMXT has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Solarmax Technology in a report on Friday, July 17th. Wall Street Zen raised Solarmax Technology to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Solarmax Technology presently has a consensus rating of “Sell”.

Solarmax Technology Stock Performance

The stock has a fifty day simple moving average of $0.42 and a 200-day simple moving average of $0.62. The stock has a market cap of $20.15 million, a P/E ratio of -3.22 and a beta of 0.29.

Solarmax Technology (NASDAQ:SMXT) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $14.83 million during the quarter.

Hedge Funds Weigh In On Solarmax Technology

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of 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 acquiring an additional 18,580 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Solarmax Technology by 45.6% during the first quarter. Renaissance Technologies LLC now owns 57,483 shares of the company’s stock worth $40,000 after purchasing an additional 18,000 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Solarmax Technology during the second quarter worth $51,000. Jane Street Group LLC bought a new position in Solarmax Technology in the second quarter valued at $60,000. Finally, Two Sigma Investments LP bought a new position in Solarmax Technology in the third quarter valued at $236,000.

About Solarmax Technology

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.