Meritor (NYSE:MTOR) stated gains of 214,613 shares or 3.5% in the short interest. The short interest registered from 6,217,194 on May 31,2016 to 6,431,807 on June 15,2016. In terms of floated shares, the shorted positions stood at 7.1%. The stock has been averaging 865,897 shares daily in trading and would need 7 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Meritor (NYSE:MTOR): The stock opened at $8.26 on Friday but the bulls could not build on the opening and the stock topped out at $8.28 for the day. The stock traded down to $7.96 during the day, due to lack of any buying support eventually closed down at $8.02 with a loss of -9.38% for the day. The stock had closed at $8.85 on the previous day. The total traded volume was 2,102,705 shares.
The company shares have dropped -38.92% from its 1 Year high price. On Jul 31, 2015, the shares registered one year high at $14.42 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $8.44 and the 200 Day Moving Average price is recorded at $7.84.
Meritor (NYSE:MTOR) has tumbled 7.07% during the past week and has dropped 7.82% 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 5.53%. Meritor (NYSE:MTOR) has underperformed the index by 5.03% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Meritor, Inc. is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Companys segments include commercial truck and industrial, and aftermarket and trailer. Its commercial truck and industrial segment supplies drivetrain systems and components, including axles, drivelines, braking and suspension systems, primarily for medium- and heavy-duty trucks in North America, South America and Europe. This segment also supplies components for defense, construction, bus and coach, mining, fire and emergency applications, and Aftermarket and Trailer segment, which supplies new and remanufactured axles, brakes, suspensions, transmissions and components for all-makes aftermarket customers, and also supplies a variety of undercarriage products and systems for trailer applications.