SolarMax Technology (NASDAQ:SMXT) Releases Earnings Results

SolarMax Technology (NASDAQ:SMXT) announced its earnings results on Friday. The company reported ($0.03) EPS for the quarter, Zacks reports. The firm had revenue of $6.93 million for the quarter.

SolarMax Technology Stock Performance

SMXT opened at $1.20 on Friday. The company’s 50-day simple moving average is $1.15 and its two-hundred day simple moving average is $1.35. SolarMax Technology has a 52-week low of $0.60 and a 52-week high of $13.48. The stock has a market capitalization of $55.00 million, a P/E ratio of -1.50 and a beta of 1.00.

Hedge Funds Weigh In On SolarMax Technology

An institutional investor recently raised its position in SolarMax Technology stock. Bank of America Corp DE increased its position in SolarMax Technology, Inc. (NASDAQ:SMXT) by 451.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,695 shares of the company’s stock after acquiring an additional 18,580 shares during the quarter. Bank of America Corp DE owned about 0.05% of SolarMax Technology worth $37,000 at the end of the most recent quarter.

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.