Solarmax Technology, Inc. (NASDAQ:SMXT) Short Interest Up 71.2% in June

Solarmax Technology, Inc. (NASDAQ:SMXT) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,020,425 shares, an increase of 71.2% from the May 31st total of 596,023 shares. Based on an average daily volume of 4,637,505 shares, the short-interest ratio is presently 0.2 days. Approximately 2.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Solarmax Technology in a research report on Tuesday, April 21st. Wall Street Zen upgraded Solarmax Technology to a “hold” rating in a research report on Saturday, March 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Solarmax Technology Stock Down 2.2%

Shares of NASDAQ:SMXT opened at $0.35 on Friday. The stock has a market cap of $19.80 million, a PE ratio of -3.16 and a beta of 0.29. The company’s fifty day moving average is $0.49 and its 200 day moving average is $0.67. Solarmax Technology has a 52 week low of $0.29 and a 52 week high of $2.50.

Solarmax Technology (NASDAQ:SMXT) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $14.83 million for the quarter.

Hedge Funds Weigh In On Solarmax Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Solarmax Technology by 45.6% in the 1st quarter. Renaissance Technologies LLC now owns 57,483 shares of the company’s stock worth $40,000 after purchasing an additional 18,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Solarmax Technology by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock valued at $271,000 after purchasing an additional 41,353 shares during the period. Two Sigma Investments LP bought a new position in shares of Solarmax Technology in the third quarter worth approximately $236,000. Jane Street Group LLC bought a new position in shares of Solarmax Technology in the second quarter worth approximately $60,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Solarmax Technology in the second quarter worth $51,000.

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. It serves residential, commercial, and government customers. SolarMax Technology, Inc was incorporated in 2008 and is headquartered in Riverside, California.