Flowserve Corporation June 15th Short Interest Update

Flowserve Corporation (NYSE:FLS) stated gains of 525,617 shares or 9.5% in the short interest. The short interest registered from 5,557,361 on May 31,2016 to 6,082,978 on June 15,2016. In terms of floated shares, the shorted positions stood at 4.7%. The stock has been averaging 1,060,958 shares daily in trading and would need 6 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Flowserve Corporation (NYSE:FLS): The stock opened at $47.97 on Friday but the bulls could not build on the opening and the stock topped out at $48.33 for the day. The stock traded down to $45.32 during the day, due to lack of any buying support eventually closed down at $45.50 with a loss of -9.51% for the day. The stock had closed at $50.28 on the previous day. The total traded volume was 2,989,712 shares.

The company shares have dropped -11.12% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $53.39 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $48.26 and the 200 Day Moving Average price is recorded at $43.81.

Flowserve Corporation (NYSE:FLS) has tumbled 9% during the past week and has dropped 5.48% 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 7.49%. Flowserve Corporation (NYSE:FLS) has underperformed the index by 2.62% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufactures precision-engineered flow control equipment integral to the movement, control and protection of the flow of materials. The Company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs, manufactures, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment. Its IPD designs, manufactures, distributes and services pre-configured engineered pumps and pump systems, including submersible motors, for industrial markets. The Companys FCD designs, manufactures, distributes and services a portfolio of industrial valve and automation solutions, including isolation and control valves, actuation, controls and related equipment.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.