Solarmax Technology (NASDAQ:SMXT) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Solarmax Technology (NASDAQ:SMXT) has received a "sell (E+)" rating from Weiss Ratings, indicating cautious investor sentiment towards the stock.
• Despite the sell rating, Wall Street Zen recently upgraded the company's rating to "hold" as of September 20th.
• As of now, Solarmax Technology's stock is trading at approximately $1.02, with a market capitalization of $55.39 million and a 52-week high of $2.70.

Solarmax Technology (NASDAQ:SMXT - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Solarmax Technology to a "hold" rating in a report on Saturday, September 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Solarmax Technology has a consensus rating of "Sell".

Solarmax Technology Stock Performance

Shares of NASDAQ SMXT opened at $1.02 on Wednesday. The firm has a market capitalization of $55.39 million, a price-to-earnings ratio of -2.83 and a beta of 0.40. The stock has a 50 day moving average price of $1.10 and a 200 day moving average price of $1.12. Solarmax Technology has a 52-week low of $0.68 and a 52-week high of $2.70.

Solarmax Technology (NASDAQ:SMXT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $6.88 million during the quarter.

Institutional Trading of Solarmax Technology

A number of hedge funds have recently bought and sold shares of SMXT. Bank of America Corp DE lifted its holdings 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 buying an additional 18,580 shares during the period. Bank of New York Mellon Corp purchased a new stake in Solarmax Technology during the first quarter worth $42,000. Qube Research & Technologies Ltd purchased a new stake in shares of Solarmax Technology during the 2nd quarter valued at $51,000. Jane Street Group LLC purchased a new stake in shares of Solarmax Technology during the 2nd quarter valued at $60,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Solarmax Technology during the 2nd quarter valued at $75,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.