Solarmax Technology (NASDAQ:SMXT) Upgraded at Wall Street Zen

Solarmax Technology (NASDAQ:SMXT) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Solarmax Technology Trading Down 2.8%

Shares of SMXT opened at $0.68 on Friday. The company has a market cap of $36.88 million, a price-to-earnings ratio of -3.57 and a beta of 0.73. The business’s fifty day simple moving average is $0.76 and its two-hundred day simple moving average is $0.89. Solarmax Technology has a 12 month low of $0.61 and a 12 month high of $2.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMXT. Bank of America Corp DE grew its position in Solarmax Technology by 451.5% in 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 during the period. Qube Research & Technologies Ltd purchased a new stake in Solarmax Technology during the 2nd quarter valued at $51,000. Jane Street Group LLC bought a new position in shares of Solarmax Technology during the 2nd quarter valued at $60,000. Two Sigma Investments LP bought a new position in shares of Solarmax Technology during the 3rd quarter valued at $236,000. Finally, Geode Capital Management LLC boosted its stake in shares of Solarmax Technology by 14.3% in the 4th 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 last quarter.

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.