Eastman Chemical Company June 15th Short Interest Update

The short interest in Eastman Chemical Company (NYSE:EMN) has increased from 5,508,684 on May 31,2016 to 6,202,633 on June 15,2016. The change was measured at 693,949 shares or 12.6%. The leftover shorts were 4.2% of the floated shares. The days to cover are 5, given the average daily volume of 1,262,836 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Eastman Chemical Company (NYSE:EMN): The stock opened at $69.70 on Friday but the bulls could not build on the opening and the stock topped out at $70.80 for the day. The stock traded down to $68.33 during the day, due to lack of any buying support eventually closed down at $68.41 with a loss of -6.30% for the day. The stock had closed at $73.01 on the previous day. The total traded volume was 3,050,928 shares.

The company shares have dropped -17.18% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $83.68 and the one year low was seen on Jan 29, 2016. The 50-Day Moving Average price is $73.23 and the 200 Day Moving Average price is recorded at $69.49.

Eastman Chemical Company (NYSE:EMN) has tumbled 4.17% during the past week and has dropped 7.25% 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 2.58%. Eastman Chemical Company (NYSE:EMN) has underperformed the index by 4.45% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). The Company manufactures chemicals for products in the coatings and tires industries in transportation, building and construction, durable goods, and consumables markets in the Additives & Functional Products segment. The Companys A&P segment focuses on producing intermediate chemicals. The Companys the AM segment produces and markets specialty copolyesters, cellulose esters, interlayers. In the Fibers segment, Eastman manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers. The Companys SFI segment offers products, such as acetyl chemical intermediates, olefin derivatives, specialty fluids, and alkylamines.

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