Weiss Ratings Reiterates “Sell (E+)” Rating for Solarmax Technology (NASDAQ:SMXT)

Solarmax Technology (NASDAQ:SMXT)‘s stock had its “sell (e+)” rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of Solarmax Technology to a “hold” rating in a research note on Saturday, September 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Solarmax Technology Price Performance

SMXT stock opened at $0.98 on Friday. The firm’s fifty day simple moving average is $1.09 and its 200-day simple moving average is $1.11. The company has a market capitalization of $53.04 million, a P/E ratio of -2.71 and a beta of 0.40. Solarmax Technology has a 12 month low of $0.84 and a 12 month high of $2.70.

Solarmax Technology (NASDAQ:SMXT) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $6.88 million for the quarter.

Hedge Funds Weigh In On Solarmax Technology

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position 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 acquiring an additional 18,580 shares during the period. Bank of New York Mellon Corp acquired a new position in Solarmax Technology during the first quarter worth $42,000. Qube Research & Technologies Ltd acquired a new position in Solarmax Technology during the second quarter worth $51,000. Jane Street Group LLC acquired a new position in Solarmax Technology during the second quarter worth $60,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Solarmax Technology during the second quarter worth $75,000.

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.