The most recent short interest data has been released for the 12/15/2017 settlement date, which shows a 1,416,699 share decrease in total short interest for Entellus Medical Inc (ENTL), to 815,374, a decrease of 63.47% since 11/30/2017. 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 ENTL at the 12/15/2017 settlement increased to 1,256,376, as compared to 114,421 at the 11/30/2017 report. That brought "days to cover" down to 1.00, a 94.87% decrease from the 19.51 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for ENTL 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 ENTL had been shorted as a hedge. The chart below shows the one year performance of ENTL shares, versus its 200 day moving average. Looking at this chart, ENTL's low point in its 52 week range is $11.47 per share, with $25.00 as the 52 week high point — that compares with a last trade of $24.94.
More from Stocks
Dow Futures Flat, Global Stocks Retreat As China Notches Weakest GDP in 30 Years
Global stocks retreated Friday after China posted its weakest quarterly economic growth rate in three decades, underscoring investor concern for a trade-related slowdown in major markets around the world and re-centering focus on the fate of ongoing trade talks between Washington and Beijing.
China's Slowing Economy Renews US Trade Deal Focus, But Who Has the Upper Hand?
China's worrying economic slowdown, the steepest in three decades, puts renewed focus on the fate of trade talks with the United States and the chances of a tariff roll-back as the two sides look to end more than year of commercial and political hostilities.
Coca-Cola, Weak China Growth, AT&T, GM, Aramco IPO - 5 Things You Must Know
U.S. stock futures decline Friday after China posts its weakest quarterly economic growth rate in nearly three decades; Coca-Cola, Schlumberger and American Express reports earnings; AT&T is discussing with Elliott Management issues raised by the activist investor.
J&J, Morgan Stanley, Coca-Cola and More - Biggest Earnings for This Week
Here's list of key companies reporting earnings the week of October 14, 2019.