Solarmax Technology (NASDAQ:SMXT) Announces Earnings Results

Solarmax Technology (NASDAQ:SMXT) posted its quarterly earnings data on Monday. The company reported ($0.02) EPS for the quarter, FiscalAI reports. The company had revenue of $46.57 million during the quarter.

Solarmax Technology Price Performance

NASDAQ:SMXT opened at $0.62 on Wednesday. The firm has a market capitalization of $33.71 million, a price-to-earnings ratio of -3.27 and a beta of 0.63. Solarmax Technology has a 1 year low of $0.61 and a 1 year high of $2.50. The business has a 50 day simple moving average of $0.74 and a 200-day simple moving average of $0.87.

Institutional Investors Weigh In On Solarmax Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Solarmax Technology by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock worth $271,000 after purchasing an additional 41,353 shares during the period. Two Sigma Investments LP purchased a new position in shares of Solarmax Technology in the 3rd quarter valued at $236,000. Jane Street Group LLC purchased a new position in shares of Solarmax Technology in the 2nd quarter valued at $60,000. Qube Research & Technologies Ltd purchased a new position in shares of Solarmax Technology in the 2nd quarter valued at $51,000. Finally, Bank of America Corp DE increased its holdings 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 valued at $37,000 after acquiring an additional 18,580 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen upgraded Solarmax Technology to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Solarmax Technology in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

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.