Pendrell Corporation (NASDAQ:PCO) encountered a drop of 3.3% or -180,378 shares in the short positions. The number dropped from 5,553,288 on May 31,2016 to 5,372,910 on June 15,2016. The final interest is 3.4% of the floated stock. The days to cover figure of 26 can be arrived using the average daily exchange of 204,505 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Pendrell Corporation (NASDAQ:PCO): The stock opened at $0.52 on Friday but the bulls could not build on the opening and the stock topped out at $0.59 for the day. The stock traded down to $0.48 during the day, due to lack of any buying support eventually closed down at $0.52 with a loss of -6.00% for the day. The stock had closed at $0.56 on the previous day. The total traded volume was 14,355,455 shares.
The company shares have dropped -61.76% from its 1 Year high price. On Aug 7, 2015, the shares registered one year high at $1.71 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $0.57 and the 200 Day Moving Average price is recorded at $0.54.
Pendrell Corporation (NASDAQ:PCO) has tumbled 6.54% during the past week and has dropped 10.36% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.98%. Pendrell Corporation (NASDAQ:PCO) has underperformed the index by 7.65% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Pendrell Corporation (Pendrell) is engaged in the intellectual property (IP) investment, advisory and asset management business. Through its consolidated subsidiaries, Pendrell invests in, acquires and develops businesses with technologies that are protected by IP rights. Pendrells subsidiaries make its IP available for use by third parties and also develop and bring to market products using its IP. Pendrells subsidiaries held approximately 1,200 patents as of December 31, 2014. The patents support four IP licensing programs that the Company owns and manages: digital media, digital cinema, wireless technologies, and memory and storage technologies. The Company also advises clients on various IP strategies and transactions. The Companys subsidiary ContentGuard offers a digital content protection application for mobile device users. ContentGuards Yovo is an ephemeral photo and messaging application.