Chicago Bridge & Iron Company N.V. (CBI) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 6,288,527 to 5,719,222 shares, with 5 days to go before the expiry. The short open interest has decreased by -9.1%, amounting to a reduction of -569,305 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 5.6% of the float of the company. The average daily volume of the stock is 1,182,459 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Chicago Bridge & Iron Company N.V. (NYSE:CBI): The stock opened at $31.94 on Wednesday but the bulls could not build on the opening and the stock topped out at $32.29 for the day. The stock traded down to $31.63 during the day, due to lack of any buying support eventually closed down at $31.70 with a loss of -0.66% for the day. The stock had closed at $31.91 on the previous day. The total traded volume was 961,607 shares.
In a related news,The director officer (President and CEO) of Chicago Bridge & Iron Co N V, Asherman Philip K sold 166,700 shares at $33.44 on August 16, 2016. The Insider selling transaction had a total value worth of $5,574,448. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Chicago Bridge and Iron Company N.V. (CBandI) provides a range of services to customers in the energy infrastructure market across the world. The Company also provides various Government services. CBandI operates through four segments: Engineering, Construction and Maintenance, which provides engineering, procurement and construction (EPC) services for energy infrastructure facilities, as well as integrated maintenance services; Fabrication Services, which provides fabrication of piping systems, process and nuclear modules; fabrication and erection of steel plate structures, and manufacturing and distribution of pipe and fittings for various industries, such as oil and gas, mining, mineral processing and power generation; Technology, which provides licensed process technologies, catalysts and engineered products, and offers process planning and project development services, and Environmental Solutions, which provides environmental services for Government and private sector customers.