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

Posted by Jared Coughlin on Nov 16th, 2024

SolarMax Technology, Inc. (NASDAQ:SMXT – Get Free Report) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 395,800 shares, a drop of 17.0% from the October 15th total of 476,700 shares. Based on an average daily volume of 332,300 shares, the short-interest ratio is presently 1.2 days. Approximately 1.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SolarMax Technology stock. Jane Street Group LLC bought a new position in SolarMax Technology, Inc. (NASDAQ:SMXT – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 43,211 shares of the company’s stock, valued at approximately $27,000. Jane Street Group LLC owned 0.10% of SolarMax Technology at the end of the most recent quarter.

SolarMax Technology Stock Down 8.6 %

Shares of NASDAQ:SMXT opened at $0.95 on Friday. SolarMax Technology has a 1 year low of $0.60 and a 1 year high of $15.88. The stock’s fifty day moving average price is $0.89 and its 200-day moving average price is $3.84.

SolarMax Technology (NASDAQ:SMXT – Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $4.45 million for the quarter.

SolarMax Technology Company Profile

(Get Free Report)

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.