MasTec June 15th Short Interest Update

MasTec (NYSE:MTZ) has seen a rise of 312,914 shares or 4.6% in the short interest. The remaining shorts are 11% of the total floated shares. The net short interest, as on June 15,2016, stood at 7,130,430 shares and the stocks days to cover will be 10 by factoring in the average per day volume of 711,831 shares. On May 31,2016, 6,817,516 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

MasTec (NYSE:MTZ): The stock opened at $22.78 on Friday but the bulls could not build on the opening and the stock topped out at $23.10 for the day. The stock traded down to $21.91 during the day, due to lack of any buying support eventually closed down at $22.17 with a loss of -7.28% for the day. The stock had closed at $23.91 on the previous day. The total traded volume was 2,265,437 shares.

The company shares have rallied 11.02% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $24.67 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $22.75 and the 200 Day Moving Average price is recorded at $19.06.

MasTec (NYSE:MTZ) has tumbled 3.78% during the past week and has dropped 2.85% in the last 4 week period. The stocks have underperformed the S&P 500 by 2.18% during the past week but MasTec (NYSE:MTZ) it has outperformed the index in 4 weeks by 0.09%.

MasTec, Inc. is an infrastructure construction company. The Companys primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure. The Company manages its operations under five operating segments: Communications; Oil and Gas; Electrical Transmission; Power Generation and Industrial, and Other. The Company offers its services primarily under the MasTec service mark and it has operations across 460 locations. It provides services under master service and other service agreements, which are generally multi-year agreements. It offers its service offerings in markets, including wireless services; natural gas, natural gas liquids and petroleum pipeline; and electrical transmission, among others.

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