Imation Corporation (NYSE:IMN), A reduction of 385,233 shares or 9.3% was observed in the short interest of Imation The interest on June 15,2016 came in at 3,765,457 shares and as per the average daily trading of 105,883 shares, the days to cover are 36. The reduced interest is 11.1% of the floated shares. The data of May 31,2016 put the interest at 4,150,690 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Imation Corporation (NYSE:IMN): The stock opened at $1.44 on Friday but the bulls could not build on the opening and the stock topped out at $1.51 for the day. The stock traded down to $1.41 during the day, due to lack of any buying support eventually closed down at $1.43 with a loss of -2.72% for the day. The stock had closed at $1.47 on the previous day. The total traded volume was 2,482,737 shares.
The company shares have dropped -68.08% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $4.71 and the one year low was seen on Feb 5, 2016. The 50-Day Moving Average price is $1.67 and the 200 Day Moving Average price is recorded at $1.35.
Imation Corporation (NYSE:IMN) has tumbled 15.88% during the past week and has dropped 15.88% 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 14.49%. Imation Corporation (NYSE:IMN) has underperformed the index by 13.34% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Imation Corp. is a data storage and security company. The Company operates in two business segments: Tiered Storage and Security Solutions (TSS) and Consumer Storage and Accessories (CSA). The Company has four product categories: Storage and Security Solutions and Commercial Storage Media in its TSS business segment and Consumer Storage Media and Audio and Accessories in its CSA segment. Its brands include Imation, Nexsan, IronKey, TDK Life on Record, TREK and Memorex. The Company markets its products through a combination of distributors, wholesalers, value-added resellers (VARs), original equipment manufacturers (OEMs) and retail outlets.