Solarmax Technology (NASDAQ:SMXT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Solarmax Technology (NASDAQ:SMXT) to a hold rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reissued 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 has an average rating of “Sell”.

Solarmax Technology Stock Performance

Shares of NASDAQ:SMXT opened at $0.67 on Friday. The firm has a market cap of $36.11 million, a price-to-earnings ratio of -3.50 and a beta of 0.74. The firm has a fifty day moving average price of $0.76 and a 200 day moving average price of $0.89. Solarmax Technology has a fifty-two week low of $0.61 and a fifty-two week high of $2.50.

Institutional Investors Weigh In On Solarmax Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMXT. Bank of America Corp DE lifted its stake 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 purchasing an additional 18,580 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Solarmax Technology in the 2nd quarter worth approximately $51,000. Jane Street Group LLC bought a new position in shares of Solarmax Technology during the 2nd quarter valued at approximately $60,000. Two Sigma Investments LP bought a new position in shares of Solarmax Technology during the 3rd quarter valued at approximately $236,000. Finally, Geode Capital Management LLC raised 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 valued at $271,000 after buying an additional 41,353 shares during the period.

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.