SolarMax Technology, Inc.’s Lock-Up Period To End on August 26th (NASDAQ:SMXT)

SolarMax Technology’s (NASDAQ:SMXT) lock-up period is set to expire on Monday, August 26th. SolarMax Technology had issued 4,500,000 shares in its IPO on February 27th. The total size of the offering was $18,000,000 based on an initial share price of $4.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

SolarMax Technology Price Performance

Shares of NASDAQ SMXT opened at $3.06 on Monday. SolarMax Technology has a 52 week low of $2.40 and a 52 week high of $15.88. The company’s 50 day moving average is $3.72.

Hedge Funds Weigh In On SolarMax Technology

A hedge fund recently bought a new stake in SolarMax Technology stock. Concurrent Investment Advisors LLC purchased a new stake in shares of SolarMax Technology, Inc. (NASDAQ:SMXT) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,000 shares of the company’s stock, valued at approximately $128,000.

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.