Solarmax Technology, Inc. (NASDAQ:SMXT) Shares Shorted: Short Interest Down 41.6% in September

Solarmax Technology, Inc. (NASDAQ:SMXT) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 39,365 shares, a drop of 41.6% from the August 31st total of 67,354 shares. Based on an average daily volume of 24,158 shares, the short-interest ratio is presently 1.6 days. Approximately 1.1% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Solarmax Technology

An institutional investor recently raised its stake in Solarmax Technology stock. Renaissance Technologies LLC boosted its holdings in Solarmax Technology, Inc. (NASDAQ:SMXT) by 45.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,483 shares of the company’s stock after acquiring an additional 18,000 shares during the quarter. Renaissance Technologies LLC owned 0.10% of Solarmax Technology worth $40,000 at the end of the most recent quarter.

Solarmax Technology Stock Performance

Shares of SMXT traded up $0.10 during mid-day trading on Friday, hitting $2.21. The company’s stock had a trading volume of 14,324 shares, compared to its average volume of 63,656. The stock’s 50-day moving average is $3.19 and its two-hundred day moving average is $5.17. The firm has a market capitalization of $10.50 million, a PE ratio of -1.68 and a beta of 0.24. Solarmax Technology has a one year low of $1.82 and a one year high of $15.24.

Solarmax Technology Company Profile

SolarMax Technology, Inc is a renewable-energy company that develops, sells and installs solar power systems for residential and commercial customers. Its offerings may include photovoltaic panels, related electrical equipment, energy-storage solutions and supporting services designed to help customers generate and manage electricity from solar power.

The company operates through business activities in the United States and China. In the U.S., SolarMax has focused on providing solar installation and related services, particularly in California and other markets where distributed solar generation is widely adopted.