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

SolarMax Technology, Inc. (NASDAQ:SMXT) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 495,600 shares, an increase of 63.6% from the November 30th total of 302,900 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily volume of 391,200 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Trading of SolarMax Technology

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

SolarMax Technology Price Performance

SMXT stock traded up $0.05 during midday trading on Friday, hitting $1.53. 156,511 shares of the company’s stock were exchanged, compared to its average volume of 272,988. The firm has a 50 day moving average price of $1.29 and a 200-day moving average price of $2.17. SolarMax Technology has a 12-month low of $0.60 and a 12-month high of $15.88.

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.