SolarMax Technology, Inc. (NASDAQ:SMXT) Sees Large Growth in Short Interest

SolarMax Technology, Inc. (NASDAQ:SMXT) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 828,600 shares, an increase of 45.1% from the January 31st total of 571,000 shares. Based on an average daily volume of 414,600 shares, the short-interest ratio is currently 2.0 days. Approximately 3.0% of the shares of the stock are short sold.

SolarMax Technology Trading Up 5.4 %

SolarMax Technology stock opened at $1.18 on Wednesday. The stock has a 50-day moving average price of $1.55 and a 200 day moving average price of $1.39. SolarMax Technology has a 52 week low of $0.60 and a 52 week high of $15.88.

Institutional Investors Weigh In On SolarMax Technology

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of SolarMax Technology by 242.1% in the 4th quarter. Geode Capital Management LLC now owns 417,437 shares of the company’s stock worth $676,000 after purchasing an additional 295,415 shares during the period. Northern Trust Corp increased its position in SolarMax Technology by 505.8% during the 4th quarter. Northern Trust Corp now owns 198,191 shares of the company’s stock worth $321,000 after purchasing an additional 165,476 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in SolarMax Technology by 4,844.9% in the fourth quarter. JPMorgan Chase & Co. now owns 109,232 shares of the company’s stock valued at $177,000 after buying an additional 107,023 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in SolarMax Technology by 541.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 72,186 shares of the company’s stock valued at $117,000 after buying an additional 60,928 shares during the period. Finally, Jane Street Group LLC acquired a new position in SolarMax Technology during the third quarter valued at approximately $27,000.

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.