Short Interest In Endurance International Group Holdings Decreases By 12.5%

The most recent short interest data has been released by the NASDAQ for the 06/15/2015 settlement date, which shows a 1,595,998 share decrease in total short interest for Endurance International Group Holdings, Inc. ( EIGI), to 11,204,424, a decrease of 12.47% since 05/29/2015. 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 EIGI at the 06/15/2015 settlement increased to 505,735, as compared to 494,959 at the 05/29/2015 report. That brought "days to cover" down to 22.15, a 14.33% decrease from the 25.86 days to cover calculated at the previous short interest data release.

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

START SLIDESHOW:
Top 25 S.A.F.E. Dividend Stocks »

Loading+chart++2015+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 EIGI had been shorted as a hedge.

The chart below shows the one year performance of EIGI shares, versus its 200 day moving average. Looking at this chart, EIGI's low point in its 52 week range is $12.17 per share, with $23.49 as the 52 week high point — that compares with a last trade of $20.50.

Endurance International Group Holdings, Inc. Chart

If you liked this article you might like

Weak On High Volume: Endurance International Group Holdings (EIGI)

Weak On High Volume: Endurance International Group Holdings (EIGI)

Insider Trading Alert - EIGI, ORCL And MYL Traded By Insiders

Insider Trading Alert - EIGI, ORCL And MYL Traded By Insiders

Endurance International Group Holdings (EIGI) Weak On High Volume Today

Endurance International Group Holdings (EIGI) Weak On High Volume Today

Trade-Ideas: Endurance International Group Holdings (EIGI) Is Today's Weak On High Relative Volume Stock

Trade-Ideas: Endurance International Group Holdings (EIGI) Is Today's Weak On High Relative Volume Stock

Analysts' Actions -- Facebook, Time Warner, Whole Foods, FireEye

Analysts' Actions -- Facebook, Time Warner, Whole Foods, FireEye