Meritor (MTOR) : Traders are increasing their bearish positions on the stock, as is visible by the 5.8% jump in the outstanding short positions; a total addition of 325,561 shares on the sell side. On Jul 29, 2016, the total short positions were 5,631,794 shares, which went up to 5,957,355 shares by the close of trading on August 15, 2016. It will take 5 days for the bears to roll over or cover. An average of 1,237,709 shares exchange hands daily. 6.8% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Meritor (NYSE:MTOR): The stock opened at $10.94 on Wednesday but the bulls could not build on the opening and the stock topped out at $11.11 for the day. The stock traded down to $10.77 during the day, due to lack of any buying support eventually closed down at $10.81 with a loss of -1.46% for the day. The stock had closed at $10.97 on the previous day. The total traded volume was 629,434 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Meritor Inc, Lyons William J, had purchased 2,799 shares in a transaction dated on May 19, 2016. The transaction was executed at $8.01 per share with total amount equaling $22,420.
Meritor, Inc. is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Companys segments include commercial truck and industrial, and aftermarket and trailer. Its commercial truck and industrial segment supplies drivetrain systems and components, including axles, drivelines, braking and suspension systems, primarily for medium- and heavy-duty trucks in North America, South America and Europe. This segment also supplies components for defense, construction, bus and coach, mining, fire and emergency applications, and Aftermarket and Trailer segment, which supplies new and remanufactured axles, brakes, suspensions, transmissions and components for all-makes aftermarket customers, and also supplies a variety of undercarriage products and systems for trailer applications.