Short Interest in Solarmax Technology, Inc. (NASDAQ:SMXT) Drops By 20.1%

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.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Solarmax Technology

Large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Solarmax Technology by 451.5% in the 4th quarter. Bank of America Corp DE now owns 22,695 shares of the company’s stock worth $37,000 after purchasing an additional 18,580 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Solarmax Technology during the second quarter valued at $75,000. Qube Research & Technologies Ltd purchased a new position in Solarmax Technology during the second quarter valued at $51,000. Jane Street Group LLC bought a new stake in Solarmax Technology in the second quarter worth $60,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Solarmax Technology in the third quarter worth $236,000.

Solarmax Technology Trading Up 2.1%

SMXT traded up $0.02 during trading on Tuesday, reaching $0.75. The stock had a trading volume of 144,880 shares, compared to its average volume of 472,114. The company has a market capitalization of $40.83 million, a price-to-earnings ratio of -3.96 and a beta of 0.50. The stock’s 50 day moving average is $0.84 and its two-hundred day moving average is $0.97. Solarmax Technology has a one year low of $0.66 and a one year high of $2.50.

Solarmax Technology (NASDAQ:SMXT) last released its earnings results on Friday, November 14th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $30.60 million for 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.