Rite Aid Corporation (NYSE:RAD) has witnessed a drop of 27.2% or 14,919,117 shares in its short figure. The short interest diminution took it from 54,899,198 on May 31,2016 to 39,980,081 on June 15,2016. In terms of floated shares, the short interest was calculated to be 3.9%. The days to cover are 2 given that the daily volume averaged 17,721,865 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Rite Aid Corporation (NYSE:RAD): The stock opened at $7.68 on Friday but the bulls could not build on the opening and the stock topped out at $7.75 for the day. The stock traded down to $7.66 during the day, due to lack of any buying support eventually closed down at $7.71 with a loss of -0.77% for the day. The stock had closed at $7.77 on the previous day. The total traded volume was 18,307,642 shares.
The company shares have dropped -7.33% from its 1 Year high price. On Aug 5, 2015, the shares registered one year high at $9.47 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $7.80 and the 200 Day Moving Average price is recorded at $7.89.
Rite Aid Corporation (NYSE:RAD) has tumbled 0.9% during the past week and has dropped 0.52% in the last 4 week period. In the past week, the company has outperformed the S&P 500 by 0.74% and the outperformance has advanced to 2.49% for the last 4 weeks period.
Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Companys drugstores primary business is pharmacy services. It operates approximately 4,570 stores in 31 states across the country and in the District of Columbia. Its front-end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise and various other every day and convenience products. The Company offers a range of products through its portfolio of private brands. Its classes of products include prescription drugs, over-the-counter medications and personal care, health and beauty aids, and general merchandise and other. It sells private brand and co-branded products. It operates under The Rite Aid name.