Sonus Networks (SONS) : Traders are increasing their bearish positions on the stock, as is visible by the 4.5% jump in the outstanding short positions; a total addition of 47,901 shares on the sell side. On Jul 29, 2016, the total short positions were 1,062,969 shares, which went up to 1,110,870 shares by the close of trading on August 15, 2016. It will take 4 days for the bears to roll over or cover. An average of 311,698 shares exchange hands daily. 2.4% 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.
Sonus Networks (NASDAQ:SONS): The stock opened at $8.57 on Wednesday but the bulls could not build on the opening and the stock topped out at $8.67 for the day. The stock traded down to $8.50 during the day, due to lack of any buying support eventually closed down at $8.51 with a loss of -1.05% for the day. The stock had closed at $8.60 on the previous day. The total traded volume was 168,811 shares.
In a related news, The director, of Sonus Networks Inc, Schofield John A had unloaded 1,000 shares at $8.78 per share in a transaction on August 12, 2016. The total value of transaction was $8,780. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Sonus Networks, Inc. is a provider of networked solutions for telecommunications, wireless and cable service providers and enterprises. Its products include session border controllers, Session Initiation Protocol (SIP) session management servers, Voice over IP (VoIP) switches, SIP application servers, multiprotocol signaling gateways and network analytics tools. Its solutions address the need for communications service providers and enterprises to seamlessly link and leverage multivendor, multiprotocol communications systems and applications across their networks, around the world and in a changing ecosystem of internet Protocol (IP)-enabled devices, such as smartphones and tablets. Its solutions help its customers realize the intended value and benefits of Unified Communications (UC) platforms, such as Microsoft Lync by enabling disparate communications environments, commonplace in enterprises, to work seamlessly together.