Solarmax Technology (NASDAQ:SMXT) Announces Earnings Results

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

Solarmax Technology Stock Down 3.6%

Solarmax Technology stock opened at $0.54 on Friday. Solarmax Technology has a 12-month low of $0.48 and a 12-month high of $2.50. The business’s 50-day moving average price is $0.65 and its two-hundred day moving average price is $0.79. The stock has a market cap of $30.79 million, a PE ratio of -4.92 and a beta of 0.13.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Solarmax Technology to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position 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 acquiring an additional 18,000 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 41,353 shares during the last quarter. Two Sigma Investments LP bought a new position in Solarmax Technology in the third quarter valued at about $236,000. Jane Street Group LLC bought a new position in Solarmax Technology in the second quarter valued at about $60,000. Finally, Qube Research & Technologies Ltd bought 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.