Short Interest In Caesarstone Drops 13.7%

The most recent short interest data has been released for the 11/15/2016 settlement date, which shows a 289,885 share decrease in total short interest for Caesarstone Ltd ( CSTE), to 1,820,525, a decrease of 13.74% since 10/31/2016. 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 CSTE at the 11/15/2016 settlement increased to 699,940, as compared to 134,182 at the 10/31/2016 report. That brought "days to cover" down to 2.60, a 83.46% decrease from the 15.73 days to cover calculated at the previous short interest data release.

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

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

Loading+chart++2016+TickerTech.com

If you liked this article you might like

7 Stocks Ripping Higher on Unusual Volume

Caesarstone (CSTE) Stock Soars on Q2 Results

Caesarstone Sdot-Yam (CSTE) Flagged As Strong On High Volume

Caesarstone Sdot-Yam (CSTE) Weak On High Volume

Today's Dead Cat Bounce Stock: Caesarstone Sdot-Yam (CSTE)