Short Interest in Solarmax Technology, Inc. (NASDAQ:SMXT) Declines By 44.0%

Solarmax Technology, Inc. (NASDAQ:SMXT) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 589,807 shares, a drop of 44.0% from the January 29th total of 1,052,586 shares. Based on an average daily volume of 435,753 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.5% of the shares of the company are short sold. Approximately 1.5% of the shares of the company are short sold. Based on an average daily volume of 435,753 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On Solarmax Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new position in Solarmax Technology during the 2nd quarter worth $75,000. Geode Capital Management LLC grew its position in 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 buying an additional 41,353 shares in the last quarter. Two Sigma Investments LP acquired a new position in Solarmax Technology during the 3rd quarter valued at about $236,000. Jane Street Group LLC bought a new stake in shares of Solarmax Technology during the 2nd quarter worth about $60,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Solarmax Technology in the 2nd quarter worth approximately $51,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Solarmax Technology in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Solarmax Technology Stock Up 3.2%

SMXT stock traded up $0.02 during mid-day trading on Monday, reaching $0.73. The company had a trading volume of 70,224 shares, compared to its average volume of 1,627,609. Solarmax Technology has a one year low of $0.61 and a one year high of $2.50. The stock’s 50-day simple moving average is $0.81 and its two-hundred day simple moving average is $0.95. The stock has a market capitalization of $39.86 million, a P/E ratio of -3.86 and a beta of 0.74.

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.