NOW (NYSE:DNOW) encountered a drop of 10.2% or -789,465 shares in the short positions. The number dropped from 7,744,207 on May 31,2016 to 6,954,742 on June 15,2016. The final interest is 6.6% of the floated stock. The days to cover figure of 7 can be arrived using the average daily exchange of 1,057,873 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
NOW (NYSE:DNOW): The stock opened at $18.22 on Friday but the bulls could not build on the opening and the stock topped out at $18.61 for the day. The stock traded down to $18.03 during the day, due to lack of any buying support eventually closed down at $18.27 with a loss of -4.84% for the day. The stock had closed at $19.20 on the previous day. The total traded volume was 10,075,427 shares.
The company shares have dropped -9.19% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $20.33 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $17.72 and the 200 Day Moving Average price is recorded at $16.45.
NOW (NYSE:DNOW) has tumbled 1.19% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 7.03% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.45% and the outperformance has advanced to 10.27% for the last 4 weeks period.
NOW Inc. (NOW) is a global distributor to energy and industrial markets. The Company operates through three segments: United States (U.S.), Canada and International. The Company operates primarily under the DistributionNOW and Wilson Export brands. Its energy product offering is needed throughout all sectors of the oil and gas industry, from upstream drilling and completion, exploration and production (E&P), midstream infrastructure development to downstream petroleum refining, as well as in other industries. It also provides supply chain management to drilling contractors, E&P operators, midstream operators, downstream energy and industrial manufacturing companies around the world. The Companys global product offering includes consumable maintenance, repair and operating (MRO) supplies, pipe, valves, fittings, flanges, electrical, artificial lift solutions, mill tools, safety supplies and spare parts to support customers operations.