Solarmax Technology (NASDAQ:SMXT) Stock Price Up 1.8% – Time to Buy?

Solarmax Technology, Inc. (NASDAQ:SMXT) rose 1.8% on Thursday . The stock traded as high as $0.40 and last traded at $0.3541. Approximately 278,206 shares traded hands during mid-day trading, an increase of 58% from the average daily volume of 175,738 shares. The stock had previously closed at $0.3478.

Analysts Set New Price Targets

Several research firms recently issued reports on SMXT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solarmax Technology in a report on Friday, July 17th. Wall Street Zen raised Solarmax Technology to a “hold” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Solarmax Technology Price Performance

The business has a 50-day simple moving average of $0.42 and a two-hundred day simple moving average of $0.62. The stock has a market cap of $20.15 million, a price-to-earnings ratio of -3.22 and a beta of 0.29.

Solarmax Technology (NASDAQ:SMXT) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $14.83 million during the quarter.

Hedge Funds Weigh In On Solarmax Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 18,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Solarmax Technology by 14.3% during the 4th 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 during the last quarter. Two Sigma Investments LP bought a new stake in shares of Solarmax Technology during the 3rd quarter worth about $236,000. Jane Street Group LLC acquired a new position in Solarmax Technology in the 2nd quarter valued at about $60,000. Finally, Qube Research & Technologies Ltd bought a new position in Solarmax Technology in the 2nd 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.