Solarmax Technology (NASDAQ:SMXT) Posts Quarterly Earnings Results

Solarmax Technology (NASDAQ:SMXT) released its earnings results on Friday. The company reported ($0.01) earnings per share for the quarter, FiscalAI reports. The company had revenue of $14.83 million for the quarter.

Solarmax Technology Stock Down 3.6%

Shares of Solarmax Technology stock traded down $0.02 during trading on Friday, reaching $0.54. The company’s stock had a trading volume of 42,251 shares, compared to its average volume of 88,311. The business’s 50-day moving average price is $0.65 and its 200-day moving average price is $0.79. The firm has a market cap of $30.79 million, a PE ratio of -4.16 and a beta of 0.13. Solarmax Technology has a 52 week low of $0.48 and a 52 week high of $2.50.

Analysts Set New Price Targets

A number of research firms have commented on SMXT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Solarmax Technology to a “hold” rating in a research report on Saturday, March 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Solarmax Technology

A number of institutional investors have recently modified their holdings of SMXT. Geode Capital Management LLC raised its stake in 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 purchasing an additional 41,353 shares in the last quarter. Two Sigma Investments LP acquired a new position in Solarmax Technology in the third quarter valued at about $236,000. Renaissance Technologies LLC raised its stake in Solarmax Technology by 45.6% in the first quarter. Renaissance Technologies LLC now owns 57,483 shares of the company’s stock valued at $40,000 after purchasing an additional 18,000 shares in the last quarter. Jane Street Group LLC acquired a new position in Solarmax Technology in the second quarter valued at about $60,000. Finally, Qube Research & Technologies Ltd acquired a new position in Solarmax Technology in the second quarter valued at about $51,000.

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. It serves residential, commercial, and government customers. SolarMax Technology, Inc was incorporated in 2008 and is headquartered in Riverside, California.