Solarmax Technology (NASDAQ:SMXT) Stock Price Up 6.5% – What’s Next?

Shares of Solarmax Technology, Inc. (NASDAQ:SMXT) rose 6.5% during trading on Monday . The stock traded as high as $0.6290 and last traded at $0.6250. Approximately 154,195 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 276,424 shares. The stock had previously closed at $0.5870.

Analyst Ratings Changes

Several analysts have recently commented on SMXT shares. Wall Street Zen raised shares of Solarmax Technology to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Solarmax Technology Trading Up 3.7%

The firm’s fifty day moving average price is $0.69 and its 200 day moving average price is $0.83. The firm has a market capitalization of $34.83 million, a PE ratio of -4.71 and a beta of 0.63.

Solarmax Technology (NASDAQ:SMXT) last released its quarterly earnings data on Monday, April 6th. The company reported ($0.02) EPS for the quarter. The firm had revenue of $46.57 million for the quarter.

Institutional Trading of Solarmax Technology

A number of hedge funds have recently added to or reduced their stakes in SMXT. Bank of America Corp DE boosted its holdings 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 worth $37,000 after buying an additional 18,580 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Solarmax Technology during the second quarter worth $51,000. Jane Street Group LLC purchased a new stake in Solarmax Technology during the second quarter worth $60,000. Two Sigma Investments LP purchased a new stake in Solarmax Technology during the third quarter worth $236,000. Finally, Geode Capital Management LLC boosted its holdings in Solarmax Technology by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock worth $271,000 after buying an additional 41,353 shares in the last 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. It serves residential, commercial, and government customers. SolarMax Technology, Inc was incorporated in 2008 and is headquartered in Riverside, California.