Akorn June 15th Short Interest Update

Akorn (NASDAQ:AKRX), According to the latest information the short interest in Akorn, Inc. plummeted by 10.4% or 1,127,337 shares. The final shorts are 11.5% of the total floated shares. The positions dropped from 10,842,976 shares on May 31,2016 to 9,715,639 on June 15,2016. According to the per-day average trading of 1,433,422 shares, the days to cover are 7. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Akorn (NASDAQ:AKRX): The stock opened at $27.13 on Friday but the bulls could not build on the opening and the stock topped out at $29.00 for the day. The stock traded down to $27.02 during the day, due to lack of any buying support eventually closed down at $27.77 with a loss of -4.57% for the day. The stock had closed at $29.10 on the previous day. The total traded volume was 2,087,847 shares.

The company shares have dropped -34.72% from its 1 Year high price. On Jul 29, 2015, the shares registered one year high at $47.35 and the one year low was seen on Mar 18, 2016. The 50-Day Moving Average price is $29.20 and the 200 Day Moving Average price is recorded at $28.10.

Akorn (NASDAQ:AKRX) has tumbled 3.98% during the past week and has dropped 7.92% 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 2.38%. Akorn (NASDAQ:AKRX) has underperformed the index by 5.14% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Akorn Inc. (Akorn), together with its wholly owned subsidiaries, is a specialty pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals, as well as animal and over-the-counter (OTC) consumer health products. The Company specializes in sterile and non-sterile dosage forms, including ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays. The Company operates in two segments: Prescription Pharmaceuticals, which is engaged in the sale of branded and generic prescription pharmaceuticals, and Consumer Health, which is engaged in the sale of branded and private label consumer and animal health products. The Company operates pharmaceutical manufacturing facilities in Decatur, Illinois; Somerset, New Jersey; Amityville, New York, and Paonta Sahib, Himachal Pradesh, India, as well as a central distribution warehouse in Gurnee, Illinois, and an additional warehousing facility in Amityville, New York.

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