SolarMax Technology (NASDAQ:SMXT) Trading Down 0.8% – Should You Sell?

Shares of SolarMax Technology, Inc. (NASDAQ:SMXT) dropped 0.8% during mid-day trading on Wednesday . The company traded as low as $1.25 and last traded at $1.31. Approximately 137,768 shares traded hands during trading, a decline of 44% from the average daily volume of 247,402 shares. The stock had previously closed at $1.32.

SolarMax Technology Stock Performance

The company has a 50 day simple moving average of $1.56 and a two-hundred day simple moving average of $1.45.

Hedge Funds Weigh In On SolarMax Technology

A number of institutional investors have recently made changes to their positions in SMXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in SolarMax Technology by 430.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,866 shares of the company’s stock valued at $26,000 after purchasing an additional 12,873 shares during the period. Bank of America Corp DE lifted its stake in shares of SolarMax Technology by 451.5% in the fourth quarter. Bank of America Corp DE now owns 22,695 shares of the company’s stock valued at $37,000 after buying an additional 18,580 shares during the period. Northern Trust Corp grew its position in SolarMax Technology by 505.8% during the fourth quarter. Northern Trust Corp now owns 198,191 shares of the company’s stock worth $321,000 after buying an additional 165,476 shares in the last quarter. XTX Topco Ltd bought a new position in SolarMax Technology during the fourth quarter valued at about $36,000. Finally, Barclays PLC raised its holdings in SolarMax Technology by 535.6% in the 4th quarter. Barclays PLC now owns 46,290 shares of the company’s stock valued at $75,000 after acquiring an additional 39,007 shares in the last 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.