Solarmax Technology (NASDAQ:SMXT) Stock Rating Upgraded by Wall Street Zen

Solarmax Technology (NASDAQ:SMXT) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Solarmax Technology in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Solarmax Technology currently has a consensus rating of “Sell”.

Solarmax Technology Stock Performance

Shares of NASDAQ:SMXT opened at $0.68 on Friday. The stock’s 50-day simple moving average is $0.76 and its two-hundred day simple moving average is $0.89. The stock has a market capitalization of $36.88 million, a price-to-earnings ratio of -3.57 and a beta of 0.73. Solarmax Technology has a 52-week low of $0.61 and a 52-week high of $2.50.

Hedge Funds Weigh In On Solarmax Technology

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Solarmax Technology by 14.3% in the fourth 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 bought a new stake in shares of Solarmax Technology during the 3rd quarter valued at $236,000. Jane Street Group LLC purchased a new position in shares of Solarmax Technology during the 2nd quarter valued at $60,000. Qube Research & Technologies Ltd purchased a new position in shares of Solarmax Technology during the 2nd quarter valued at $51,000. Finally, Bank of America Corp DE boosted its holdings in Solarmax Technology by 451.5% in the 4th 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 during the period.

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.