Wright Medical Group (NASDAQ:WMGI) has witnessed a drop of 3.9% or 406,075 shares in its short figure. The short interest diminution took it from 10,374,133 on May 31,2016 to 9,968,058 on June 15,2016. In terms of floated shares, the short interest was calculated to be 10%. The days to cover are 9 given that the daily volume averaged 1,127,531 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Wright Medical Group (NASDAQ:WMGI): The stock opened at $16.76 on Friday but the bulls could not build on the opening and the stock topped out at $17.49 for the day. The stock traded down to $16.45 during the day, due to lack of any buying support eventually closed down at $16.66 with a loss of -5.50% for the day. The stock had closed at $17.63 on the previous day. The total traded volume was 5,309,648 shares.
The company shares have dropped -32.82% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $26.13 and the one year low was seen on Feb 10, 2016. The 50-Day Moving Average price is $18.57 and the 200 Day Moving Average price is recorded at $19.09.
Wright Medical Group (NASDAQ:WMGI) has tumbled 5.23% during the past week and has dropped 13.72% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.66%. Wright Medical Group (NASDAQ:WMGI) has underperformed the index by 11.11% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Wright Medical Group, Inc. is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc. (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients lifestyles. The Company operates through three segments: U.S., International and BioMimetic. The Companys business includes products that are used in foot and ankle repair, upper extremity products and biologics products, which are used to replace damaged or diseased bone, to stimulate bone growth and to provide other biological solutions for surgeons and patients. The Companys products include extremity hardware, foot and ankle hardware, upper extremity hardware and biologics.