Manhattan Associates (NASDAQ:MANH) reported a drop of 2.2% or 109,726 shares in its short interest. The short figure came in at 6.7% of the total floats. The average daily volume of 484,697 shares suggests that the days to cover 4,785,837 short positions, as on June 15,2016, will be 10. On May 31,2016, the short interest was 4,895,563 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Manhattan Associates (NASDAQ:MANH): The stock opened at $62.84 on Friday but the bulls could not build on the opening and the stock topped out at $63.84 for the day. The stock traded down to $61.08 during the day, due to lack of any buying support eventually closed down at $62.13 with a loss of -6.05% for the day. The stock had closed at $66.13 on the previous day. The total traded volume was 7,789,334 shares.
The company shares have rallied 5.06% from its 1 Year high price. On Dec 7, 2015, the shares registered one year high at $77.75 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $64.08 and the 200 Day Moving Average price is recorded at $60.39.
Manhattan Associates (NASDAQ:MANH) has tumbled 3.58% during the past week and has dropped 5.52% 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 1.98%. Manhattan Associates (NASDAQ:MANH) has underperformed the index by 2.66% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Manhattan Associates, Inc. (Manhattan) is a developer and provider of supply chain commerce solutions. The Company is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and Omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations. The Companys solutions consist of software, services, and hardware, which coordinate people, workflows, assets, events, and tasks across the functions linked in a supply chain. It offers its solutions in three areas: supply chain, Omni-channel and inventory. Its solutions enable coordinating the actions, data exchange, and communication of participants in supply chain ecosystems, such as manufacturers, suppliers, distributors, trading partners, transportation providers, channels (such as catalogers, store retailers, and Web outlets), and consumers. It has operations in North America, Europe, and the Asia/Pacific region.