Jacobs Engineering Group (JEC) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 3,322,683 to 3,032,671 shares, with 3 days to go before the expiry. The short open interest has decreased by -8.7%, amounting to a reduction of -290,012 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 2.5% of the float of the company. The average daily volume of the stock is 927,990 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Jacobs Engineering Group (NYSE:JEC): The stock opened at $54.39 on Wednesday but the bulls could not build on the opening and the stock topped out at $54.81 for the day. The stock traded down to $53.99 during the day, due to lack of any buying support eventually closed down at $54.11 with a loss of -0.97% for the day. The stock had closed at $54.64 on the previous day. The total traded volume was 417,982 shares.
In a related news, The Securities and Exchange Commission has divulged that Watson Noel G, director of Jacobs Engineering Group Inc /De/, had unloaded 66,666 shares at an average price of $49.28 in a transaction dated on July 1, 2016. The total value of the transaction was worth $3,285,300.
Jacobs Engineering Group Inc. is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. Its services include technical professional services and field services. Its technical professional services include project services, and process, scientific and systems consulting. Its field services include construction, and operations and maintenance (O&M). It offers its services to the industries, including aerospace and defense; automotive and industrial; buildings; mining and minerals; nuclear; oil and gas (upstream); petrochemicals and chemicals; pharmaceutical and biotechnology; power and utilities; pulp, paper and consumer products; refining (downstream); telecommunications; transportation, and water and wastewater. It offers its services in approximately 30 countries. The Companys products include Chemetics, Comprimo sulfur solutions and Modular construction.