Short Interest Update on Harsco Corporation (HSC)

Harsco Corporation (HSC) : The traders have covered their outstanding shorts in Harsco Corporation (HSC) to the tune of -161,812 shares, a change of -10.5%. As on Jul 29, 2016, the outstanding shorts on the stock were 1,546,420 shares, however, by August 15, 2016, the shorts had reduced to 1,384,608 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 1.7% of the free float of the stock. It takes 2 days to cover the outstanding short positions. The stock has an average daily volume of 785,970 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Harsco Corporation (NYSE:HSC): The stock opened at $10.52 on Wednesday but the bulls could not build on the opening and the stock topped out at $10.70 for the day. The stock traded down to $10.38 during the day, due to lack of any buying support eventually closed down at $10.41 with a loss of -1.05% for the day. The stock had closed at $10.52 on the previous day. The total traded volume was 430,162 shares.


In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the CFO of Harsco Corp, Minan Peter Francis had purchased shares worth of $36,600 in a transaction dated on March 2, 2016. A total of 10,000 shares were purchased at a price of $3.66 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the global metals industries. Harsco Industrial segment includes the Harsco Industrial IKG, Harsco Industrial Air-X-Changers and Harsco Industrial Patterson-Kelley businesses. Harsco Rail segment is a provider of equipment and services for the maintenance, repair and construction of railway track. The Companys principal lines of business include outsourced, on-site services of material logistics and resource recovery for iron, steel and metals manufacturing; air-cooled heat exchangers; industrial grating products; heat transfer products, and railway track maintenance services and equipment.

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