Friday, April 11, 2014

Suntech Short Interest Hits New Low $STPFQ

Between March 14 and March 31, 1.1 million shares covered bringing short interest to a new low. It seems like the bid from shorts covering is a large factor in maintaining the current price.


Walter said...

Looks like short covering accounted for about 1/3 of the total volume in the second half of March if I'm doing this calculation right. Over 1 million shares covered in half a month and there's only 3.6 million short interest left.

CP said...

Average daily volume was 289,000 so should have been 2.89 million shares traded during that half of the month. That means the covering was 36%. That should be enough to prop the price up.