SolarMax Technology, Inc. (NASDAQ:SMXT) experienced a gap down in trading on Thursday, opening at $11.21 after closing at $11.59. Shares of SolarMax Technology last traded at $11.20 with a volume of 4,732 shares. The stock saw an increase of 2.3%, with a 50-day moving average of $10.42.
SolarMax Technology is an integrated solar energy firm that operates in the United States and China. The company sells and installs photovoltaic and battery backup systems, as well as LED systems. Additionally, SolarMax Technology identifies and procures solar farm projects for resale and provides engineering, procurement, and construction services for solar farm projects.
In recent institutional activity, Concurrent Investment Advisors LLC purchased a new position in SolarMax Technology by buying 14,000 shares valued at approximately $128,000. This investment indicates confidence in the company’s potential for growth and profitability in the solar energy industry.
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