Mellanox Technologies Ltd. (MLNX) : 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 2,352,267 to 2,280,585 shares, with 5 days to go before the expiry. The short open interest has decreased by -3.1%, amounting to a reduction of -71,682 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 5.6% of the float of the company. The average daily volume of the stock is 431,843 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Mellanox Technologies Ltd. (NASDAQ:MLNX): The stock opened at $43.29 on Wednesday but the bulls could not build on the opening and the stock topped out at $43.33 for the day. The stock traded down to $42.87 during the day, due to lack of any buying support eventually closed down at $43.00 with a loss of -0.21% for the day. The stock had closed at $43.09 on the previous day. The total traded volume was 480,012 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Mellanox Technologies, Ltd., Dorchak Glenda had sold 1,500 shares worth of $64,560 in a transaction dated August 4, 2016. In this transaction, 1,500 shares were sold at $43.04 per share.
Mellanox Technologies, Ltd. is a fabless semiconductor company. The Company designs, manufactures and sells interconnect products and solutions based on the InfiniBand and Ethernet standards. Its products facilitate data transmission between servers, storage systems, communications infrastructure equipment and other embedded systems. Its products include integrated circuits (ICs), adapter cards, switch systems, cables, modules, software, services and accessories for networking solution focused on computing, storage and communication applications used in multiple markets, including high-performance computing, Web 2.0, storage, financial services, enterprise data center and cloud. Its InfiniBand products include adapter ICs and cards (ConnectX and Connect-IB product family) and switch ICs (InfiniScale, SwitchX, SwitchX-2 and Switch-IB product families) and systems, gateway ICs (BridgeX product family) and gateway systems, long-haul systems (MetroX), software, cables and modules.