Express (EXPR) : The traders have covered their outstanding shorts in Express (EXPR) to the tune of -154,883 shares, a change of -2.6%. As on Jul 29, 2016, the outstanding shorts on the stock were 5,976,556 shares, however, by August 15, 2016, the shorts had reduced to 5,821,673 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 8.1% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 1,627,703 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Express (NYSE:EXPR): The stock opened at $12.73 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.74 for the day. The stock traded down to $11.89 during the day, due to lack of any buying support eventually closed down at $11.94 with a loss of -25.51% for the day. The stock had closed at $16.03 on the previous day. The total traded volume was 25,674,859 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP – Planning and Allocation) of Express, Inc., Rafferty John J had sold 10,000 shares worth of $200,000 in a transaction dated April 13, 2016. In this transaction, 10,000 shares were sold at $20 per share.
Express, Inc. is a specialty apparel and accessories retailer offering both womens and mens merchandise, targeting the 20 to 30 year old customer. The Company offers an assortment of fashionable apparel and accessories to address fashion needs across multiple aspects of lifestyles, including work, casual, jeans wear and going-out occasions. The Company operates one segment, which includes the operation of its brick-and-mortar retail and outlet stores, e-commerce operations and franchise operations. The Company sells its products through its e-commerce Website, www.express.com, and has franchise agreements with franchisees that operate Express locations in Latin America, the Middle East and South Africa. The Company operates approximately 641 stores across the United States, in Canada and in Puerto Rico, including 41 factory outlet stores.