Axalta Coating Systems Ltd. (AXTA) : 2 days before expiry, shorts in Axalta Coating Systems Ltd. (AXTA) have reduced from 4,156,136 on Jul 29, 2016, to 3,632,452 on August 15, 2016. On an average, 2,215,463 shares are traded on the exchange. The outstanding bearish positions are equal to 1.5% of the float. Short sellers have covered -523,684 shares, a reduction of -12.6%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Axalta Coating Systems Ltd. (NYSE:AXTA): The stock opened at $28.45 on Wednesday but the bulls could not build on the opening and the stock topped out at $28.49 for the day. The stock traded down to $28.14 during the day, due to lack of any buying support eventually closed down at $28.20 with a loss of -0.53% for the day. The stock had closed at $28.35 on the previous day. The total traded volume was 1,823,304 shares.
In a related news, The Securities and Exchange Commission has divulged that Shaver Charles W, director officer (CEO) of Axalta Coating Systems Ltd., had unloaded 200,000 shares at an average price of $28.21 in a transaction dated on July 28, 2016. The total value of the transaction was worth $5,642,000.
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.