Titan International (TWI) : The short interest in Titan International (TWI) has increased from 2,890,113 to 3,186,274 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 532,638 shares are traded daily in the stock and only 6 days are left for the shorts to cover. The short open interest is 6.2% of the total shares in the hands of the public. The shorts in the stock have gone up by 296,161 shares, which is an increase of 10.2% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Titan International (NYSE:TWI): The stock opened at $9.76 on Wednesday but the bulls could not build on the opening and the stock topped out at $9.89 for the day. The stock traded down to $9.54 during the day, due to lack of any buying support eventually closed down at $9.58 with a loss of -1.84% for the day. The stock had closed at $9.76 on the previous day. The total traded volume was 349,836 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Titan International Inc, Cowger Gary L, had purchased 23,760 shares in a transaction dated on March 4, 2016. The transaction was executed at $6.2 per share with total amount equaling $147,312.
Titan International, Inc. together with its subsidiaries manufactures wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates in three segments: agricultural, earthmoving/construction and consumer. Titans agricultural segment includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment. Titans earthmoving/construction segment includes rims, wheels, tires and undercarriage systems and components for various types of off-the-road (OTR) earthmoving, mining, military and construction equipment. The Companys consumer segment includes bias truck tires in Latin America and light truck tires in Russia, as well as products for all-terrain vehicles (ATVs) and recreational/utility trailers.