Mar 29, 2016

Posted by in Stock Reports | 0 Comments

What NASDAQ Stocks Show Big Move In Short Interest? – Acorda Therapeutics, Inc. (ACOR), Harmonic Inc. (HLIT), Cognex Corporation (CGNX)

What NASDAQ Stocks Show Big Move In Short Interest? – Acorda Therapeutics, Inc. (ACOR), Harmonic Inc. (HLIT), Cognex Corporation (CGNX)

A stock with a high days to cover value compared to its peers would be considered to have a higher level of short interest as compared to those peers. This could mean short sellers are using the stock to hedge a long bet elsewhere, or could also mean that short sellers believe the price of the stock will decline. When short sellers eventually cover their positions, by definition there must be buying activity because a share that is currently sold short must be purchased to be covered. So investors tend to keep an eye on that days to cover metric, because a high value could predict a sharper price increase should the company put out some unexpectedly good news — short sellers might rush to cover positions, and if the days to cover number is high, it is more difficult to close those positions without sending the stock higher until the higher price produces enough sellers to generate the necessary volume.

As of 15/03/2016 short interest for Acorda Therapeutics, Inc. (ACOR) stood at 5557882 shares, an increase of 7276 shares or 0.13 percent compared to 5550606 shares on 29/02/2016. This short interest comprises 12 percent of the entire float. Short interest ratio now stands at 5.1 at the average volume of 1089863 shares.

According to the latest short-interest data for the two-week period ended 15/03/2016 short interest for the stock of Harmonic Inc. (HLIT) decreased from 9773559 shares at the end of the settlement date of 29/02/2016 to 9461055 shares, marking a decline of -312504 shares or -3.3 percent. The current short interest accounts for 11.47 percent of the company’s total outstanding common shares and the days-to-cover short interest ratio, on the other hand, is 15.424057 as of 15/03/2016 assuming average daily trading volume of 613396 shares.

Short interest for the shares of Cognex Corporation (CGNX) fell -0.64 percent from 5226415 shares on 29/02/2016 to 5193011 shares on 15/03/2016. Investors have taken short positions on 6 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 12.872819 days. It is based on average daily trading volume of 403409 shares.

 

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