Solarmax Technology, Inc. (NASDAQ:SMXT) Stock Short Interest Falls 41.6%
by Tristan Rich · The Markets DailySolarmax Technology, Inc. (NASDAQ:SMXT – Get Free Report) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 39,365 shares, a decline of 41.6% from the August 31st total of 67,354 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 24,158 shares, the days-to-cover ratio is presently 1.6 days.
Hedge Funds Weigh In On Solarmax Technology
A hedge fund recently raised its stake in Solarmax Technology stock. Renaissance Technologies LLC increased its position in shares of Solarmax Technology, Inc. (NASDAQ:SMXT – Free Report) by 45.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,483 shares of the company’s stock after acquiring an additional 18,000 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Solarmax Technology worth $40,000 at the end of the most recent quarter.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Solarmax Technology in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on Solarmax Technology
Solarmax Technology Trading Down 1.6%
SMXT stock traded down $0.04 during mid-day trading on Wednesday, reaching $2.21. 1,463 shares of the stock traded hands, compared to its average volume of 64,214. The company has a market cap of $10.50 million, a P/E ratio of -1.68 and a beta of 0.19. The stock’s fifty day moving average is $3.27 and its 200-day moving average is $5.26. Solarmax Technology has a 52-week low of $1.82 and a 52-week high of $15.24.
Solarmax Technology Company Profile
SolarMax Technology, Inc is a renewable-energy company that develops, sells and installs solar power systems for residential and commercial customers. Its offerings may include photovoltaic panels, related electrical equipment, energy-storage solutions and supporting services designed to help customers generate and manage electricity from solar power.
The company operates through business activities in the United States and China. In the U.S., SolarMax has focused on providing solar installation and related services, particularly in California and other markets where distributed solar generation is widely adopted.