Short Interest in SolarMax Technology, Inc. (NASDAQ:SMXT) Decreases By 17.0%

SolarMax Technology, Inc. (NASDAQ:SMXT) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 395,800 shares, a decline of 17.0% from the October 15th total of 476,700 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily volume of 332,300 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On SolarMax Technology

A hedge fund recently raised its stake in SolarMax Technology stock. Concurrent Investment Advisors LLC raised its holdings in shares of SolarMax Technology, Inc. (NASDAQ:SMXT) by 76.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,650 shares of the company’s stock after purchasing an additional 10,650 shares during the quarter. Concurrent Investment Advisors LLC owned 0.05% of SolarMax Technology worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

SolarMax Technology Trading Down 8.6 %

NASDAQ:SMXT opened at $0.95 on Friday. The business’s 50-day moving average is $0.89 and its 200 day moving average is $3.80. SolarMax Technology has a 12 month low of $0.60 and a 12 month high of $15.88.

SolarMax Technology (NASDAQ:SMXT) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $4.45 million during 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.