Solarmax Technology (NASDAQ:SMXT) Posts Earnings Results

Solarmax Technology (NASDAQ:SMXT) released its quarterly earnings data on Friday. The company reported ($0.04) EPS for the quarter, Zacks reports.

Solarmax Technology Price Performance

SMXT stock traded up $0.00 during midday trading on Friday, reaching $0.98. 59,277 shares of the company were exchanged, compared to its average volume of 236,264. Solarmax Technology has a one year low of $0.87 and a one year high of $2.70. The firm has a market capitalization of $53.22 million, a price-to-earnings ratio of -2.72 and a beta of 0.38. The business has a 50-day moving average price of $1.03 and a two-hundred day moving average price of $1.09.

Institutional Trading of Solarmax Technology

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Solarmax Technology in the second quarter valued at approximately $60,000. Bank of America Corp DE boosted its stake 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 valued at $37,000 after purchasing an additional 18,580 shares during the period. Qube Research & Technologies Ltd bought a new stake in Solarmax Technology in the 2nd quarter valued at $51,000. Finally, Two Sigma Investments LP acquired a new position in Solarmax Technology in the 3rd quarter valued at $236,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Solarmax Technology to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Solarmax Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.