Solarmax Technology, Inc. (NASDAQ:SMXT) Short Interest Up 267.5% in January

Solarmax Technology, Inc. (NASDAQ:SMXT) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 1,318,098 shares, a growth of 267.5% from the December 31st total of 358,702 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 5,185,656 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 5,185,656 shares, the days-to-cover ratio is currently 0.3 days. Currently, 3.3% of the company’s stock are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new stake in shares of Solarmax Technology in the 3rd quarter valued at $236,000. Jane Street Group LLC purchased a new stake in shares of Solarmax Technology during the 2nd quarter valued at about $60,000. Qube Research & Technologies Ltd purchased a new stake in shares of Solarmax Technology during the 2nd quarter valued at about $51,000. Y Intercept Hong Kong Ltd purchased a new stake in Solarmax Technology in the second quarter worth about $75,000. Finally, Bank of America Corp DE increased its stake in 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 buying an additional 18,580 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, Solarmax Technology has a consensus rating of “Sell”.

Solarmax Technology Trading Up 4.5%

Shares of SMXT traded up $0.04 during mid-day trading on Friday, reaching $0.92. The company’s stock had a trading volume of 181,026 shares, compared to its average volume of 2,957,330. Solarmax Technology has a 1-year low of $0.70 and a 1-year high of $2.50. The stock has a market cap of $49.96 million, a P/E ratio of -4.84 and a beta of 0.50. The business has a 50-day simple moving average of $0.87 and a two-hundred day simple moving average of $1.00.

Solarmax Technology (NASDAQ:SMXT) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company 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.