LendingClub Corporation (NYSE:LC) stated gains of 5,992,290 shares or 12.6% in the short interest. The short interest registered from 47,583,887 on May 31,2016 to 53,576,177 on June 15,2016. In terms of floated shares, the shorted positions stood at 19.3%. The stock has been averaging 16,233,137 shares daily in trading and would need 3 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
LendingClub Corporation (NYSE:LC): The stock opened at $4.70 on Friday but the bulls could not build on the opening and the stock topped out at $4.88 for the day. The stock traded down to $4.58 during the day, due to lack of any buying support eventually closed down at $4.69 with a loss of -5.82% for the day. The stock had closed at $4.98 on the previous day. The total traded volume was 43,353,412 shares.
The company shares have dropped -67.74% from its 1 Year high price. On Jul 24, 2015, the shares registered one year high at $15.14 and the one year low was seen on May 17, 2016. The 50-Day Moving Average price is $4.52 and the 200 Day Moving Average price is recorded at $7.75.
LendingClub Corporation (NYSE:LC) has tumbled 3.7% during the past week and has dropped 2.49% in the last 4 week period. The stocks have underperformed the S&P 500 by 2.1% during the past week but LendingClub Corporation (NYSE:LC) it has outperformed the index in 4 weeks by 0.46%.
LendingClub Corporation (Lending Club) is engaged in providing online marketplace for connecting borrowers and investors. The Companys online marketplace connects borrowers. Lending Clubs marketplace allows borrowers and investors to engage in transactions relating to standard or custom program loans. The Companys standard program loans are a part of the standard loan program. The standard program loans are three- or five-year unsecured personal loans which are offered to borrowers. These loans can be invested in through the purchase of notes issued pursuant to a Note Registration Statement, and are available through the Companys Website. The custom program loans include small business loans, super prime consumer loans, education and patient finance loans and personal loans. The Companys technology platform supports its marketplace and makes available loan products to investor channels.