Short Interest Update on Eastman Chemical Company (EMN)

Eastman Chemical Company (EMN) : Traders are negative on Eastman Chemical Company (EMN), as it has 2.6% of short positions outstanding compared to its float. The total shorts have reduced by -598,651 shares, which is a -13.7% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,4,371,878 to 3,773,227 shares. While the daily trading volume of the stock is 1,197,668, there are 3 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

Eastman Chemical Company (NYSE:EMN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $66.84 and $66.84 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $67.69. The buying momentum continued till the end and the stock did not give up its gains. It closed at $67.36, notching a gain of 0.45% for the day. The total traded volume was 1,126,048 . The stock had closed at $67.06 on the previous day.


In a related news,The director officer (Chief Executive Officer) of Eastman Chemical Co, Costa Mark J sold 38,400 shares at $75.21 on May 9, 2016. The Insider selling transaction had a total value worth of $2,888,064. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). The Company manufactures chemicals for products in the coatings and tires industries in transportation, building and construction, durable goods, and consumables markets in the Additives & Functional Products segment. The Companys A&P segment focuses on producing intermediate chemicals. The Companys the AM segment produces and markets specialty copolyesters, cellulose esters, interlayers. In the Fibers segment, Eastman manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers. The Companys SFI segment offers products, such as acetyl chemical intermediates, olefin derivatives, specialty fluids, and alkylamines.

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