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

Key Points

• Solarmax Technology has been upgraded to a "hold" rating by analysts at Wall Street Zen.
• The company's stock price rose by 2.8%, opening at $1.11, with a market cap of $60.27 million.
• Recent hedge fund activity showed significant changes in ownership, with Northern Trust Corp increasing its stake by 505.8% in the last quarter.

Solarmax Technology (NASDAQ:SMXT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "hold" rating in a note issued to investors on Saturday.

Solarmax Technology Stock Performance

Shares of NASDAQ SMXT traded up $0.01 during mid-day trading on Friday, reaching $1.12. 27,861 shares of the company traded hands, compared to its average volume of 2,089,563. The stock has a market cap of $60.82 million, a PE ratio of -3.10 and a beta of 0.53. The company's fifty day moving average is $1.11 and its two-hundred day moving average is $1.13. Solarmax Technology has a fifty-two week low of $0.60 and a fifty-two week high of $2.70.

Solarmax Technology (NASDAQ:SMXT - Get Free Report) last issued 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 during the quarter.

Institutional Trading of Solarmax Technology

Several hedge funds have recently added to or reduced their stakes in SMXT. Northern Trust Corp boosted its stake in Solarmax Technology by 505.8% during the 4th quarter. Northern Trust Corp now owns 198,191 shares of the company's stock valued at $321,000 after purchasing an additional 165,476 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Solarmax Technology during the 2nd quarter valued at approximately $75,000. Jane Street Group LLC bought a new stake in Solarmax Technology during the 2nd quarter valued at approximately $60,000. Qube Research & Technologies Ltd bought a new stake in Solarmax Technology during the 2nd quarter valued at approximately $51,000. Finally, Bank of New York Mellon Corp bought a new stake in Solarmax Technology during the 1st quarter valued at approximately $42,000.

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.