Solarmax Technology, Inc. (NASDAQ:SMXT) Short Interest Update

Solarmax Technology, Inc. (NASDAQ:SMXT) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 1,052,586 shares, a decline of 20.1% from the January 15th total of 1,318,098 shares. Based on an average daily trading volume, of 569,749 shares, the short-interest ratio is presently 1.8 days. Approximately 2.6% of the company’s shares are sold short. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 569,749 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Solarmax Technology

Large investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new stake in Solarmax Technology during the second quarter valued at about $75,000. Geode Capital Management LLC increased its stake in Solarmax Technology by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock worth $271,000 after buying an additional 41,353 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Solarmax Technology in the third quarter worth about $236,000. Jane Street Group LLC purchased a new position in Solarmax Technology in the 2nd quarter worth approximately $60,000. Finally, Qube Research & Technologies Ltd purchased a new position in Solarmax Technology during the second quarter valued at $51,000.

Solarmax Technology Price Performance

SMXT stock traded up $0.01 during trading on Monday, hitting $0.74. 294,921 shares of the stock traded hands, compared to its average volume of 472,114. The stock has a market cap of $40.00 million, a price-to-earnings ratio of -3.88 and a beta of 0.49. Solarmax Technology has a 1 year low of $0.66 and a 1 year high of $2.50. The firm’s 50 day moving average is $0.84 and its two-hundred day moving average is $0.97.

Solarmax Technology (NASDAQ:SMXT) last issued its earnings results on Friday, November 14th. The company reported ($0.04) EPS for the quarter. The business had revenue of $30.60 million during the quarter.

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.