Solarmax Technology, Inc. (NASDAQ:SMXT) Sees Significant Decrease in Short Interest

Solarmax Technology, Inc. (NASDAQ:SMXT) saw a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 58,628 shares, a decrease of 91.7% from the July 30th total of 709,151 shares. Based on an average daily volume of 19,519 shares, the short-interest ratio is presently 3.0 days. Currently, 1.7% of the company’s stock are short sold.

Solarmax Technology Stock Performance

Shares of SMXT stock traded down $0.09 during mid-day trading on Thursday, hitting $3.02. 13,622 shares of the stock were exchanged, compared to its average volume of 70,380. The stock’s fifty day simple moving average is $4.12 and its two-hundred day simple moving average is $6.32. Solarmax Technology has a 12-month low of $2.65 and a 12-month high of $15.24. The stock has a market capitalization of $14.31 million, a price-to-earnings ratio of -2.29 and a beta of 0.28.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Solarmax Technology currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Solarmax Technology

Several large investors have recently modified their holdings of SMXT. Renaissance Technologies LLC boosted its stake in shares of Solarmax Technology by 45.6% during the first quarter. Renaissance Technologies LLC now owns 57,483 shares of the company’s stock worth $40,000 after buying an additional 18,000 shares during the period. Bank of America Corp DE lifted its position in Solarmax Technology by 451.5% during the 4th quarter. Bank of America Corp DE now owns 22,695 shares of the company’s stock worth $37,000 after acquiring an additional 18,580 shares during the period. Geode Capital Management LLC grew its stake in shares of Solarmax Technology by 14.3% in the 4th 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 last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Solarmax Technology in the second quarter valued at approximately $51,000. Finally, Jane Street Group LLC purchased a new stake in shares of Solarmax Technology during the second quarter worth approximately $60,000.

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