Solarmax Technology (NASDAQ:SMXT) Shares Down 3.7% – Should You Sell?

Solarmax Technology, Inc. (NASDAQ:SMXT)’s stock price was down 3.7% during mid-day trading on Thursday . The company traded as low as $0.93 and last traded at $0.9818. Approximately 375,007 shares traded hands during trading, an increase of 67% from the average daily volume of 225,139 shares. The stock had previously closed at $1.02.

Analyst Ratings Changes

SMXT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a research note on Wednesday, October 8th. Wall Street Zen raised Solarmax Technology to a “hold” rating in a research note on Saturday, September 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Solarmax Technology Price Performance

The business has a 50 day moving average of $1.08 and a 200 day moving average of $1.10. The company has a market cap of $53.31 million, a PE ratio of -2.73 and a beta of 0.40.

Solarmax Technology (NASDAQ:SMXT) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.04) EPS for the quarter. The company had revenue of $6.88 million during the quarter.

Hedge Funds Weigh In On Solarmax Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMXT. Bank of America Corp DE lifted its position in 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. Bank of New York Mellon Corp purchased a new position in Solarmax Technology during the first quarter valued at $42,000. Qube Research & Technologies Ltd purchased a new position in Solarmax Technology during the second quarter valued at $51,000. Jane Street Group LLC purchased a new stake in shares of Solarmax Technology in the 2nd quarter worth approximately $60,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Solarmax Technology in the 2nd quarter worth approximately $75,000.

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.