Cott Corporation (COT) : 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 1,868,982 to 1,164,561 shares, with 1 days to go before the expiry. The short open interest has decreased by -37.7%, amounting to a reduction of -704,421 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 0.9% of the float of the company. The average daily volume of the stock is 1,298,897 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Cott Corporation (NYSE:COT): The stock opened at $16.42 on Wednesday but the bulls could not build on the opening and the stock topped out at $16.42 for the day. The stock traded down to $16.11 during the day, due to lack of any buying support eventually closed down at $16.17 with a loss of -1.34% for the day. The stock had closed at $16.39 on the previous day. The total traded volume was 694,815 shares.
In a related news,The director of Cott Corp /Cn/, Rosenfeld Eric sold 19,582 shares at $17.07 on August 18, 2016. The Insider selling transaction had a total value worth of $334,265. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Cott Corporation, together with its consolidated subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates in three segments: North America, United Kingdom and All Other. The Company is also engaged in home and office bottled water and office coffee services distribution in the United States. The Companys product lines include carbonated soft drinks (CSDs), 100% shelf stable juice and juice-based products, clear, still and sparkling flavored waters, energy drinks and shots, sports products, new age beverages, ready-to-drink teas and alcoholic beverages, beverage concentrates, liquid enhancers and freezables, as well as hot chocolate, coffee, malt drinks, creamers/whiteners and cereals. The Companys has approximately 62 beverage manufacturing, production, distribution and fruit processing facilities.