Short Interest in Solarmax Technology, Inc. (NASDAQ:SMXT) Expands By 27.9%

Solarmax Technology, Inc. (NASDAQ:SMXT) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 831,846 shares, a growth of 27.9% from the March 31st total of 650,228 shares. Based on an average daily trading volume, of 394,046 shares, the short-interest ratio is presently 2.1 days. Approximately 2.0% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of analysts recently commented on SMXT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Solarmax Technology in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Solarmax Technology to a “hold” rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Solarmax Technology currently has an average rating of “Sell”.

Hedge Funds Weigh In On Solarmax Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in Solarmax Technology by 451.5% during the fourth quarter. Bank of America Corp DE now owns 22,695 shares of the company’s stock valued at $37,000 after buying an additional 18,580 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Solarmax Technology in the 2nd quarter worth about $51,000. Jane Street Group LLC bought a new position in shares of Solarmax Technology in the 2nd quarter worth about $60,000. Two Sigma Investments LP bought a new position in shares of Solarmax Technology in the 3rd quarter worth about $236,000. Finally, Geode Capital Management LLC lifted its position in Solarmax Technology by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock valued at $271,000 after acquiring an additional 41,353 shares during the period.

Solarmax Technology Trading Up 3.4%

Solarmax Technology stock traded up $0.02 during trading hours on Thursday, hitting $0.61. 23,559 shares of the stock traded hands, compared to its average volume of 895,993. Solarmax Technology has a one year low of $0.48 and a one year high of $2.50. The firm’s 50-day moving average price is $0.67 and its two-hundred day moving average price is $0.82. The company has a market cap of $34.54 million, a PE ratio of -4.67 and a beta of 0.63.

Solarmax Technology (NASDAQ:SMXT) last announced its earnings results on Monday, April 6th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $46.57 million during the quarter.

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.