Short Interest Decreases By 18.3% For GERN

The most recent short interest data has been released by the NASDAQ for the 06/28/2013 settlement date, which shows a 746,207 share decrease in total short interest for Geron Corp. (GERN), to 3,339,352, a decrease of 18.26% since 06/14/2013. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for GERN at the 06/28/2013 settlement increased to 1,927,762, as compared to 762,066 at the 06/14/2013 report. That brought "days to cover" down to 1.73, a 67.69% decrease from the 5.36 days to cover calculated at the previous short interest data release.

START SLIDESHOW:
The 10 Most Shorted Stocks of the Dow »

The below chart shows the historical "days to cover" for GERN at previous short interest release dates:

Loading+chart++2013+TickerTech.com

A decreased "days to cover" value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where GERN had been shorted as a hedge.

The chart below shows the one year performance of GERN shares, versus its 200 day moving average. Looking at this chart, GERN's low point in its 52 week range is $0.91 per share, with $2.99 as the 52 week high point — that compares with a last trade of $1.51.

Geron Corp. Chart

In afternoon trading Friday, GERN was off about 1% on the day.

null

More from Stocks

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

This Should Be Your Retirement Savings Plan When the Stock Market Crashes

This Should Be Your Retirement Savings Plan When the Stock Market Crashes