The most recent short interest data has been released for the 03/31/2017 settlement date, which shows a 447,230 share decrease in total short interest for Merit Medical Systems, Inc. (MMSI - Get Report), to 1,067,481, a decrease of 29.53% since 03/15/2017. 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 MMSI at the 03/31/2017 settlement increased to 791,395, as compared to 187,962 at the 03/15/2017 report. That brought "days to cover" down to 1.35, a 83.26% decrease from the 8.06 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for MMSI at previous short interest release dates: 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 MMSI had been shorted as a hedge. The chart below shows the one year performance of MMSI shares, versus its 200 day moving average. Looking at this chart, MMSI's low point in its 52 week range is $18.08 per share, with $31.70 as the 52 week high point — that compares with a last trade of $28.19. According to the ETF Finder at ETF Channel, MMSI makes up 1.36% of the SPDR S&P Health Care Equipment ETF (XHE) which is lower by about 0.3% on the day Wednesday.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Stocks
Boeing Could Face SEC Probe Into 737 MAX Groundings: Report
Amid probes by SEC and FAA, 737 MAX planes' return to service likely delayed, reports say.
S&P 500 Support Holds, but a Third Test Would Likely Be a Different Story
While the bears have been unsuccessful so far in breaking support, the bulls have been equally lackluster in generating upside momentum.
Dow Ends Modestly Higher; Stocks Edge Up Ahead of Holiday Weekend
Stocks ended higher Friday as Wall Street heads into a long Memorial Day weekend.
2 Tailwinds Could See Investors Shop for Retail Stocks in 2019 -- ICYMI
Wage expenses and freight costs could soon abate, a big tailwind for retailers heading into the rest of 2019. Here's what investors need to know.
Beyond Pricey? Our Reporters Try the Beyond Meat Burger, Talk Business Model
Is Beyond Meat's burger enough to convince investors to invest in the company? TheStreet conducted a taste test to see what the hype is about.