Wall Street Zen Upgrades Solarmax Technology (NASDAQ:SMXT) to “Hold”

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

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Solarmax Technology Price Performance

Solarmax Technology stock opened at $0.68 on Friday. Solarmax Technology has a 1-year low of $0.61 and a 1-year high of $2.50. The firm has a market capitalization of $36.88 million, a P/E ratio of -3.57 and a beta of 0.74. The company’s 50-day moving average is $0.76 and its 200 day moving average is $0.89.

Hedge Funds Weigh In On Solarmax Technology

Several institutional investors have recently made changes to their positions in SMXT. Geode Capital Management LLC raised its holdings in shares of Solarmax Technology by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock valued at $271,000 after acquiring an additional 41,353 shares in the last quarter. Two Sigma Investments LP bought a new position in Solarmax Technology during the 3rd quarter worth about $236,000. Jane Street Group LLC bought a new position in Solarmax Technology during the 2nd quarter worth about $60,000. Qube Research & Technologies Ltd purchased a new stake in shares of Solarmax Technology in the 2nd quarter worth approximately $51,000. Finally, Bank of America Corp DE lifted its position in shares of 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.

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.