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

Solarmax Technology, Inc. (NASDAQ:SMXT) was the recipient of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 1,052,586 shares, a decrease of 20.1% from the January 15th total of 1,318,098 shares. Based on an average trading volume of 569,749 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.6% of the company’s stock are short sold. Approximately 2.6% of the company’s stock are short sold. Based on an average trading volume of 569,749 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Solarmax Technology

A number of institutional investors have recently modified their holdings of SMXT. Geode Capital Management LLC grew its holdings in Solarmax Technology by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 329,889 shares of the company’s stock worth $271,000 after acquiring an additional 41,353 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Solarmax Technology during the 3rd quarter worth approximately $236,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Solarmax Technology during the 2nd quarter valued at approximately $75,000. Jane Street Group LLC acquired a new position in shares of Solarmax Technology in the 2nd quarter valued at $60,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Solarmax Technology in the 2nd quarter valued at $51,000.

Solarmax Technology Stock Up 1.9%

Shares of NASDAQ SMXT opened at $0.74 on Friday. Solarmax Technology has a 52 week low of $0.66 and a 52 week high of $2.50. The business’s 50 day moving average price is $0.84 and its 200 day moving average price is $0.97. The firm has a market cap of $40.01 million, a P/E ratio of -3.88 and a beta of 0.50.

Solarmax Technology (NASDAQ:SMXT) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.04) EPS for the quarter. The business 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.