Solarmax Technology (NASDAQ:SMXT) Stock Price Down 5.2% - What's Next?

Key Points

• Solarmax Technology's stock price dropped by 5.2% to $1.09, with trading volume declining to about 556,123 shares, significantly below its average daily volume of 627,387 shares.
• The company's market capitalization stands at $59.19 million and it reported a quarterly earnings loss of ($0.04) EPS with revenues of $6.88 million.
• Analysts at Wall Street Zen upgraded Solarmax Technology from a "sell" to a "hold" rating, reflecting a shift in sentiment regarding the stock.

Solarmax Technology, Inc. (NASDAQ:SMXT - Get Free Report) dropped 5.2% on Tuesday . The stock traded as low as $1.06 and last traded at $1.09. Approximately 556,123 shares changed hands during trading, a decline of 11% from the average daily volume of 627,387 shares. The stock had previously closed at $1.15.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Solarmax Technology from a "sell" rating to a "hold" rating in a report on Saturday, May 24th.

Solarmax Technology Price Performance

The company has a market capitalization of $59.19 million, a price-to-earnings ratio of -3.03 and a beta of 0.53. The business has a fifty day moving average price of $1.11 and a 200 day moving average price of $1.14.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in shares of Solarmax Technology during the 2nd quarter worth about $60,000. Qube Research & Technologies Ltd bought a new position in shares of Solarmax Technology during the 2nd quarter worth about $51,000. Y Intercept Hong Kong Ltd bought a new position in shares of Solarmax Technology during the 2nd quarter worth about $75,000. Bank of New York Mellon Corp bought a new position in shares of Solarmax Technology during the 1st quarter worth about $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Solarmax Technology by 430.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,866 shares of the company's stock worth $26,000 after purchasing an additional 12,873 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.

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