Axalta Coating Systems Ltd. (NYSE:AXTA) stated loss of 507,389 shares or 14.1% in the short interest. The short interest registered from 3,594,754 on May 31,2016 to 3,087,365 on June 15,2016. In terms of floated shares, the shorted positions stood at 1.5%. The stock has been averaging 2,104,054 shares daily in trading and would need 1 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Axalta Coating Systems Ltd. (NYSE:AXTA): The stock opened at $26.99 on Friday but the bulls could not build on the opening and the stock topped out at $27.18 for the day. The stock traded down to $26.06 during the day, due to lack of any buying support eventually closed down at $26.09 with a loss of -6.89% for the day. The stock had closed at $28.02 on the previous day. The total traded volume was 8,985,697 shares.
The company shares have dropped -22.00% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $34.22 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $27.89 and the 200 Day Moving Average price is recorded at $26.92.
Axalta Coating Systems Ltd. (NYSE:AXTA) has tumbled 6.79% during the past week and has dropped 7.61% 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 5.24%. Axalta Coating Systems Ltd. (NYSE:AXTA) has underperformed the index by 4.82% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Axalta Coating Systems Ltd. is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company operates in two business segments: Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base. Through its Transportation Coatings segment, the Company provides advanced coating technologies to original equipment manufacturer (OEMs) of light and commercial vehicles. Its products are offered in four key end-markets, including the refinish automotive aftermarket, industrial, light vehicle or automotive original equipment manufacturers (OEM) market, and commercial vehicle market. The Companys products include liquid and powder coatings for motor vehicles OEMs, the motor vehicle aftermarket, and general industrial applications, such as coatings for heavy equipment, pipes, appliances and electrical insulation.