Solarmax Technology (NASDAQ:SMXT) Issues Earnings Results

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

Solarmax Technology Stock Down 1.9%

NASDAQ:SMXT traded down $0.01 during midday trading on Monday, hitting $0.70. The company had a trading volume of 232,895 shares, compared to its average volume of 1,083,900. The stock’s fifty day moving average price is $0.75 and its 200-day moving average price is $0.87. Solarmax Technology has a 52-week low of $0.61 and a 52-week high of $2.50. The company has a market capitalization of $38.08 million, a PE ratio of -3.69 and a beta of 0.63.

Analyst Ratings Changes

SMXT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Solarmax Technology in a research report on Thursday, January 22nd. Wall Street Zen raised Solarmax Technology to a “hold” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Solarmax Technology currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Solarmax Technology

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake 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 valued at $271,000 after acquiring an additional 41,353 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Solarmax Technology in the 3rd quarter worth approximately $236,000. Jane Street Group LLC bought a new stake in shares of Solarmax Technology in the 2nd quarter worth approximately $60,000. Qube Research & Technologies Ltd bought a new stake in shares of Solarmax Technology in the 2nd quarter worth approximately $51,000. Finally, Bank of America Corp DE increased its stake in shares of Solarmax Technology by 451.5% during the fourth quarter. Bank of America Corp DE now owns 22,695 shares of the company’s stock valued at $37,000 after buying an additional 18,580 shares during the period.

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.