Short Interest Update on Covanta Holding Corporation (CVA)

Covanta Holding Corporation (CVA) : The short interest in Covanta Holding Corporation (CVA) has increased from 10,692,352 to 10,941,625 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 928,238 shares are traded daily in the stock and only 12 days are left for the shorts to cover. The short open interest is 9.5% of the total shares in the hands of the public. The shorts in the stock have gone up by 249,273 shares, which is an increase of 2.3% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.

Covanta Holding Corporation (NYSE:CVA): The stock opened at $14.84 on Wednesday but the bulls could not build on the opening and the stock topped out at $14.89 for the day. The stock traded down to $14.72 during the day, due to lack of any buying support eventually closed down at $14.78 with a loss of -0.34% for the day. The stock had closed at $14.83 on the previous day. The total traded volume was 702,835 shares.


In a related news, Broglio Ronald J, director of Covanta Holding Corp, unloaded 4,500 shares at an average price of $15.78 on July 28, 2016. The total amount of the transaction was worth $71,010, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Covanta Holding Corporation is a holding company. Through its subsidiaries, the Company owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. Energy-from-waste (EfW) serves two markets as both a sustainable waste management solution and as a source of clean energy. The Company operate and/or have ownership positions in 46 EfW facilities, which are primarily located in North America, and 11 additional energy generation facilities, including other renewable energy production facilities in North America (wood biomass and hydroelectric). In total, these assets produce approximately 10 million megawatt hours (MWh) of baseload electricity. The Company also operates a waste management infrastructure, including 18 transfer stations. The Company also operates, and in some cases has ownership interests in, transfer stations and landfills.

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