The most recent short interest data has been released for the 01/31/2018 settlement date, which shows a 451,161 share decrease in total short interest for Merit Medical Systems, Inc. (MMSI - Get Report), to 1,865,641, a decrease of 19.47% since 01/12/2018. 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 01/31/2018 settlement increased to 290,840, as compared to 258,184 at the 01/12/2018 report. That brought "days to cover" down to 6.41, a 28.52% decrease from the 8.97 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 $27.255 per share, with $48.10 as the 52 week high point — that compares with a last trade of $42.70. According to the ETF Finder at ETF Channel, MMSI makes up 1.67% of the SPDR S&P Health Care Equipment ETF (XHE) which is lower by about 0.9% on the day Tuesday.
More from Stocks
Sarepta Craters After FDA Rejection of Muscular Dystrophy Drug
In its rejection of golodirsen, Sarepta's second treatment for Duchenne muscular dystrophy, the FDA cites concerns over infection risk "related to intravenous infusion ports and renal toxicity," the company said in a statement.
Watch These Huawei-Exposed Chips Stocks as White House Gives Extension to Huawei
Don't look at Nvidia and AMD. Look at these four instead.
Baidu Stock Continues Bull Run as Trade Optimism, Strong Earnings Spark Surge
The Chinese tech giant is charging hard to close August, adding hope for bulls betting on an inflection point.
Jim Cramer: Hail to Estee Lauder, the New England Patriots of Retail
Under CEO Fabrizio Freda, the cosmetics giant takes risks and then does the blocking and tackling needed to win in a challenging retail environment.