Solarmax Technology (NASDAQ:SMXT) Announces Quarterly Earnings Results

Solarmax Technology (NASDAQ:SMXT) posted its earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, Zacks reports.

Solarmax Technology Stock Performance

NASDAQ:SMXT traded up $0.00 during trading hours on Friday, reaching $0.98. The stock had a trading volume of 59,277 shares, compared to its average volume of 236,264. The company has a 50 day moving average price of $1.03 and a two-hundred day moving average price of $1.09. Solarmax Technology has a 52 week low of $0.87 and a 52 week high of $2.70. The stock has a market capitalization of $53.22 million, a PE ratio of -2.72 and a beta of 0.38.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SMXT. Wall Street Zen raised shares of Solarmax Technology to a “hold” rating in a report on Saturday, September 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Solarmax Technology in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Solarmax Technology currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Solarmax Technology

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Solarmax Technology by 451.5% during the 4th 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. Qube Research & Technologies Ltd purchased a new position in shares of Solarmax Technology during the second quarter valued at approximately $51,000. Jane Street Group LLC purchased a new stake in shares of Solarmax Technology in the second quarter worth approximately $60,000. Finally, Two Sigma Investments LP purchased a new position in Solarmax Technology during the 3rd quarter valued at $236,000.

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.