Solarmax Technology, Inc. (NASDAQ:SMXT) Stock Short Interest Jumps 573.2%

Solarmax Technology, Inc. (NASDAQ:SMXT) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 179,872 shares, a growth of 573.2% from the September 30th total of 26,717 shares. Currently, 5.1% of the company’s shares are sold short. Based on an average trading volume of 538,620 shares, the days-to-cover ratio is currently 0.3 days.

Solarmax Technology Trading Up 0.6%

NASDAQ:SMXT traded up $0.03 during trading hours on Tuesday, hitting $4.28. The stock had a trading volume of 1,144 shares, compared to its average volume of 88,034. Solarmax Technology has a 1-year low of $1.82 and a 1-year high of $15.24. The business has a 50 day simple moving average of $3.23 and a two-hundred day simple moving average of $6.07. The company has a market cap of $20.27 million, a PE ratio of -2.35 and a beta of 0.24.

Solarmax Technology (NASDAQ:SMXT) last posted its quarterly earnings results on Wednesday, October 7th. The company reported ($0.98) EPS for the quarter. The company had revenue of $10.24 million during the quarter.

Hedge Funds Weigh In On Solarmax Technology

An institutional investor recently raised its position in Solarmax Technology stock. Renaissance Technologies LLC lifted its holdings in Solarmax Technology, Inc. (NASDAQ:SMXT) by 45.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,483 shares of the company’s stock after purchasing an additional 18,000 shares during the period. Renaissance Technologies LLC owned 0.10% of Solarmax Technology worth $40,000 as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Solarmax Technology in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Solarmax Technology Company Profile

SolarMax Technology, Inc is a solar energy company that designs, sells and installs renewable energy systems for residential customers. Its offerings include solar photovoltaic systems, battery energy storage and related equipment, with services covering system design, permitting, installation and grid interconnection. The company also provides ongoing monitoring and support for installed systems.

SolarMax primarily serves customers in the United States, with a focus on the California residential solar market, and also conducts solar-related business in China.