Solarmax Technology, Inc. (NASDAQ:SMXT) Short Interest Update

Solarmax Technology, Inc. (NASDAQ:SMXT) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 39,365 shares, a decrease of 41.6% from the August 31st total of 67,354 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 24,158 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Solarmax Technology in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Solarmax Technology Stock Performance

SMXT stock opened at $2.52 on Thursday. The stock’s 50 day simple moving average is $3.23 and its 200 day simple moving average is $5.22. The company has a market cap of $11.94 million, a P/E ratio of -1.91 and a beta of 0.19. Solarmax Technology has a fifty-two week low of $1.82 and a fifty-two week high of $15.24.

Hedge Funds Weigh In On Solarmax Technology

An institutional investor recently raised its position in Solarmax Technology stock. Renaissance Technologies LLC boosted its holdings in Solarmax Technology, Inc. (NASDAQ:SMXT) by 45.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,483 shares of the company’s stock after purchasing 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.

About Solarmax Technology

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.