8×8 Inc June 15th Short Interest Update

8×8 Inc (NASDAQ:EGHT) stated loss of 478,551 shares or 14.8% in the short interest. The short interest registered from 3,242,115 on May 31,2016 to 2,763,564 on June 15,2016. In terms of floated shares, the shorted positions stood at 3.2%. The stock has been averaging 523,496 shares daily in trading and would need 5 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

8×8 Inc (NASDAQ:EGHT): The stock opened at $13.75 on Friday but the bulls could not build on the opening and the stock topped out at $13.96 for the day. The stock traded down to $13.44 during the day, due to lack of any buying support eventually closed down at $13.75 with a loss of -5.11% for the day. The stock had closed at $14.49 on the previous day. The total traded volume was 3,203,568 shares.

The company shares have rallied 55.19% from its 1 Year high price. On Jun 23, 2016, the shares registered one year high at $14.50 and the one year low was seen on Aug 26, 2015. The 50-Day Moving Average price is $12.93 and the 200 Day Moving Average price is recorded at $11.50.

8×8 Inc (NASDAQ:EGHT) has tumbled 0.22% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 9.47% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 1.44% and the outperformance has advanced to 12.79% for the last 4 weeks period.

8×8, Inc. (8×8) offers Software as a Service (SaaS) communication solution. The Company is engaged in business cloud communications and development and use of Internet protocol voice, video and data communication technologies in a true SaaS model. The 8×8 unified cloud communications solution addresses the shortcomings of legacy and point solution cloud services through its pure cloud Software as a Service offering. The Companys Infrastructure Manager abstracts complex global interconnectivity between Voice over Internet Protocol (VoIP) and traditional public switched telephone network (PSTN) providing customers with a phone system that can reach any phone in the world whether wireless or wireline. Its Integration Manager integrates with third-party applications, including Salesforce.com, Microsoft Dynamics, NetSuite, Zendesk and many others, to provide integrated applications functionality within its communications and collaboration services.

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