Cummins (CMI) : 5 days before expiry, shorts in Cummins (CMI) have reduced from 7,394,602 on Jul 29, 2016, to 6,272,383 on August 15, 2016. On an average, 1,336,737 shares are traded on the exchange. The outstanding bearish positions are equal to 3.8% of the float. Short sellers have covered -1,122,219 shares, a reduction of -15.2%, 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.
Cummins (NYSE:CMI): The stock opened at $125.50 on Wednesday but the bulls could not build on the opening and the stock topped out at $126.05 for the day. The stock traded down to $124.65 during the day, due to lack of any buying support eventually closed down at $124.94 with a loss of -0.57% for the day. The stock had closed at $125.66 on the previous day. The total traded volume was 864,824 shares.
In a related news,The officer (VP – Corporate Strategy) of Cummins Inc, Ewald Thaddeus B sold 820 shares at $126.95 on August 11, 2016. The Insider selling transaction had a total value worth of $104,099. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Cummins Inc. is a global diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. It has four operating segments: Engine, Distribution, Components and Power Generation. The Company sells its products to original equipment manufacturers (OEMs), distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7,200 dealer locations in more than 190 countries. In addition, engines and engine components are manufactured by the Companys joint ventures or independent licensees at its manufacturing plants in the United States, China, India, South Korea, Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.