Adobe Systems Incorporated (NASDAQ:ADBE) has seen a shortfall of 646,809 shares or 12.8% in the short interest. The remaining shorts are 0.9% of the total floated shares. The net short interest, as on June 15,2016, stood at 4,416,303 shares and the stocks days to cover will be 2 by factoring in the average per day volume of 1,944,146 shares. On May 31,2016, 5,063,112 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Adobe Systems Incorporated (NASDAQ:ADBE): The stock opened at $92.39 on Friday but the bulls could not build on the opening and the stock topped out at $94.35 for the day. The stock traded down to $92.04 during the day, due to lack of any buying support eventually closed down at $92.20 with a loss of -4.17% for the day. The stock had closed at $96.21 on the previous day. The total traded volume was 4,329,088 shares.
The company shares have rallied 13.44% from its 1 Year high price. On May 31, 2016, the shares registered one year high at $100.56 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $97.29 and the 200 Day Moving Average price is recorded at $91.63.
Adobe Systems Incorporated (NASDAQ:ADBE) has tumbled 3.54% during the past week and has dropped 7.93% 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 1.94%. Adobe Systems Incorporated (NASDAQ:ADBE) has underperformed the index by 5.14% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals, marketers, application developers, enterprises and consumers for creating, managing, delivering, optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Companys operates in three segments: Digital Marketing, Digital Media, and Print and Publishing. In Digital Media, the Company is engaged in providing tools, services and solutions that enable to create, publish and promote their content. In Digital Marketing, the Company is engaged in providing solutions and services for creating, managing, executing, measuring and optimizing digital advertising and marketing campaigns. Adobes Print and Publishing segment addresses various market opportunities, including eLearning solutions, technical document publishing, Web application development and high-end printing.