Solarmax Technology
SMXT

$1.49

34.51%

Market Cap: $67.1M

About: SolarMax Technology Inc is an integrated solar and renewable energy company. It operates in two segments namely the United States and China. The United States business includes the sale and installation of photovoltaic and battery backup systems. China operations consist of operating and maintaining solar farm projects and identifying and procuring solar farm projects for resale to third parties. Some of its products are LG Solar Panels, QCELL Solar Panels, Panasonic Solar Panels, and others. The company generates a majority of its revenue from the Solar energy systems.

Employees: 87

Industrials Construction Special Trade Contractors

0

Funds holding %

of 6,686 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

82% more first-time investments, than exits

New positions opened: 20 | Existing positions closed: 11

43% more funds holding

Funds holding: 21 [Q1] → 30 (+9) [Q2]

1.12% less ownership

Funds ownership: 4.14% [Q1] → 3.03% (-1.12%) [Q2]

33% less repeat investments, than reductions

Existing positions increased: 4 | Existing positions reduced: 6

74% less capital invested

Capital invested by funds: $17.1M [Q1] → $4.51M (-$12.6M) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for SMXT.

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Financial journalist opinion

Based on 3 articles about SMXT published over the past 30 days

OKYO Pharma and SolarMax Technology Interviews to Air on the RedChip Small Stocks, Big Money(TM) Show on Bloomberg TV

ORLANDO, FL / ACCESSWIRE / August 23, 2024 / RedChip Companies will air interviews with OKYO Pharma Ltd. (Nasdaq:OKYO) and SolarMax Technology, Inc. (Nasdaq:SMXT) on the RedChip Small Stocks, Big Money™ show, a sponsored program on Bloomberg TV, this Saturday, August 24, at 7 p.m.

OKYO Pharma and SolarMax Technology Interviews to Air on the RedChip Small Stocks, Big Money(TM) Show on Bloomberg TV

SolarMax Technology Expands US Footprint with New Commercial Solar Project in California

RIVERSIDE, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, signed a non-binding term sheet for a significant new commercial solar project in California. The project, a major mall in the San Jose area, represents another step forward in SolarMax' ongoing strategy to expand its solar development capabilities in the US commercial market.

SolarMax Technology Expands US Footprint with New Commercial Solar Project in California

SolarMax Technology Reports Second Quarter 2024 Financial Results

RIVERSIDE, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, today reported financial results for the quarter ended June 30, 2024.

SolarMax Technology Reports Second Quarter 2024 Financial Results

SolarMax Technology, Inc. Announces Proposed Milestone Project in the U.S., Establishing Its Leadership Position

RIVERSIDE, Calif. , Aug. 6, 2024 /PRNewswire/ -- SolarMax Technology, Inc. (Nasdaq: SMXT) ("SolarMax" or the "Company"), an integrated renewable energy company, is pleased to announce its plan to expand its business in the U.S. market, dedicated to leading the revolution with innovative smart solar systems.

SolarMax Technology, Inc. Announces Proposed Milestone Project in the U.S., Establishing Its Leadership Position

SolarMax Technology, Inc. Plans to Offer EPC Services in the United States

RIVERSIDE, Calif., July 24, 2024 (GLOBE NEWSWIRE) -- SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, announced that it plans to offer engineering, procurement and construction services, known as EPC services, for large scale solar systems in the United States, which would include both solar power and EV charging stations. As the initial step in this business plan, SolarMax has signed a non-binding memorandum of understanding for its first major commercial solar installation project in the United States. This proposed project, to be located in Las Vegas, marks a potentially significant milestone in SolarMax' strategy to offer large scale EPC services in the U.S. EPC services encompass the comprehensive management of a solar project from the initial feasibility studies and design through procurement and construction.

SolarMax Technology, Inc. Plans to Offer EPC Services in the United States

SolarMax Technology: Struggling Due To NEM 3.0 And Cash Is Running Low

The company raised $18 million through an IPO in February, but operating cash flow was negative $6.4 million in Q1 2024 alone. The shareholders' equity is in the red and I think that SolarMax Technology is likely to run out of liquidity by the end of the year. In my view, the business of SolarMax Technology could be close to worthless in its current state, but short selling seems dangerous.

SolarMax Technology: Struggling Due To NEM 3.0 And Cash Is Running Low

SolarMax Technology, Inc. Reports First Quarter 2024 Financial Results

RIVERSIDE, CA / ACCESSWIRE / May 16, 2024 / SolarMax Technology, Inc. (Nasdaq:SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2024. First Quarter Highlights Revenues were $5.8 million, compared to $12.9 million in the first quarter of 2023.

SolarMax Technology, Inc. Reports First Quarter 2024 Financial Results

Why this stock could be the surprise millionaire maker of the year!

Every investor dreams of discovering a stock that promises not just growth but exponential returns. For 2024, one such stock is SolarMax Technology, Inc. (NASDAQ: SMXT)—a company that has caught the attention of the investing public.

Why this stock could be the surprise millionaire maker of the year!

SolarMax Technology, Inc. Reports Fiscal Year 2023 Financial Results

RIVERSIDE, CA / ACCESSWIRE / April 16, 2024 / SolarMax Technology, Inc. (NASDAQ:SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for its fiscal year ended December 31, 2023. Fiscal Year 2023 Financial Highlights Revenue increased to $54.1 million, up 21% from 2022 Gross profit increased to $11.1 million, up 49% from 2022 Gross margin improved to 21%, up from 17% in 2022 Total operating expense decreased to $10.7 million, down 31% from 2022 Net income improved to $0.4 million, from a net loss of $6.9 million in 2022 "We are proud to report a year of growth and operational progress for SolarMax," stated David Hsu, CEO of SolarMax.

SolarMax Technology, Inc. Reports Fiscal Year 2023 Financial Results

SolarMax Technology, Inc. Announces Exercise of Overallotment Option From Initial Public Offering

RIVERSIDE, CA, March 05, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SolarMax Technology, Inc. (“SolarMax” or the “Company”) (Nasdaq SMXT), an integrated solar energy company, announced today that the underwriters of its recently completed initial public offering (“IPO”) of common stock have purchased 539,950 shares of common stock upon partial exercise of their option to purchase additional shares of common stock to cover over-allotments at the initial public offering price of $4.00 per share.

SolarMax Technology, Inc. Announces Exercise of Overallotment Option From Initial Public Offering

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