Pandora Media (NYSE:P) reported a drop of 6.9% or 3,784,001 shares in its short interest. The short figure came in at 23.5% of the total floats. The average daily volume of 6,481,849 shares suggests that the days to cover 51,338,157 short positions, as on June 15,2016, will be 8. On May 31,2016, the short interest was 55,122,158 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Pandora Media (NYSE:P): The stock opened at $11.58 on Friday but the bulls could not build on the opening and the stock topped out at $12.10 for the day. The stock traded down to $11.50 during the day, due to lack of any buying support eventually closed down at $11.74 with a loss of -3.77% for the day. The stock had closed at $12.20 on the previous day. The total traded volume was 9,577,748 shares.
The company shares have dropped -24.45% from its 1 Year high price. On Sep 21, 2015, the shares registered one year high at $22.60 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $11.18 and the 200 Day Moving Average price is recorded at $10.48.
Pandora Media (NYSE:P) has climbed 1.56% in the past week and advanced 2.8% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 3.24% and the outperformance has advanced to 5.91% for the last 4 weeks period.
Pandora Media, Inc. is a United States-based provider of Internet radio in the United States. The Company offers a personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones, tablets, computers and car audio systems, as well as a range of other Internet-connected devices. It allows local and national advertisers to deliver targeted messages to its listeners using a combination of audio, display and video advertisements. Its free service is advertising-based and allows listeners access to its music and comedy catalogs, and personalized playlist generating system for free across all of its delivery platforms. Pandora One is a paid subscription service without any advertising. Pandora One also offers listeners daily skips, audio on supported devices and timeout-free listening. The Companys technologies include Music Genome Project and Comedy Genome Project.