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

SolarMax Technology, Inc. (NASDAQ:SMXT) saw a large decline in short interest in 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. Based on an average trading volume of 332,300 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.4% of the company’s shares are short sold.

SolarMax Technology Stock Performance

Shares of SMXT stock opened at $0.95 on Monday. The firm has a fifty day simple moving average of $0.89 and a two-hundred day simple moving average of $3.76. SolarMax Technology has a 12 month low of $0.60 and a 12 month high of $15.88.

Hedge Funds Weigh In On SolarMax Technology

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