Mar 8, 2016

Posted by in Stock Reports | 0 Comments

Three Significant NYSE Short Interest Moves To Analyze: Big Lots Inc. (BIG), General Mills, Inc. (GIS), Cimarex Energy Co. (XEC)

Three Significant NYSE Short Interest Moves To Analyze: Big Lots Inc. (BIG), General Mills, Inc. (GIS), Cimarex Energy Co. (XEC)

Short Interest is the total number of shares of stock currently sold short in the market. Some technicians interpret high levels of short interest as bullish, some as bearish. The bullish perspective is that, because all short sales must be covered (i.e. short-sellers eventually must purchase shares to return the ones they have borrowed), short interest represents latent future demand for the stocks. As short sales are covered, the demand created by the share purchase will force prices up. The bearish interpretation of short interest is based on the fact that short-sellers tend to be larger, more sophisticated investors.

Accordingly, increased short interest reflects bearish sentiment by those investors in the know which would be a negative signal of the market’s prospects. Investors with brokerage accounts will often leave credit balances in those accounts when they plan to invest in the near future. Thus, credit balances may be viewed as measuring the potential for new stock purchases. As a result, a buildup of balances is viewed as a bullish indicator for the market.

As of 12/02/2016 short interest for Big Lots Inc. (BIG) stood at 8143543 shares, a decrease of -675389 shares or -8.29 percent compared to 8818932 shares on 29/01/2016. This short interest comprises 17 percent of the entire float. Short interest ratio now stands at 11.53 at the average volume of 706557 shares.

According to the latest short-interest data for the two-week period ended 12/02/2016 short interest for the stock of General Mills, Inc. (GIS) decreased from 12249911 shares at the end of the settlement date of 29/01/2016 to 11412046 shares, marking a decline of -837865 shares or -7.34 percent. The current short interest accounts for 1.93 percent of the company’s total outstanding common shares and the days-to-cover short interest ratio, on the other hand, is 3.529675 as of 12/02/2016 assuming average daily trading volume of 3233172 shares.

Short interest for the shares of Cimarex Energy Co. (XEC) rose 1.05 percent from 3947627 shares on 29/01/2016 to 3989666 shares on 12/02/2016. Investors have taken short positions on 4 percent of the total common shares of the stock that are floating on the exchange. The days-to-cover short interest ratio is now at 2.58594 days. It is based on average daily trading volume of 1542830 shares.

 

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