The short interest in Rexnord Corporation (NYSE:RXN) has declined from 2,595,272 on May 31,2016 to 2,492,530 on June 15,2016. The change was measured at 102,742 shares or 4%. The leftover shorts were 2.5% of the floated shares. The days to cover are 4, given the average daily volume of 711,659 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Rexnord Corporation (NYSE:RXN): The stock opened at $20.18 on Friday but the bulls could not build on the opening and the stock topped out at $20.44 for the day. The stock traded down to $19.46 during the day, due to lack of any buying support eventually closed down at $19.55 with a loss of -7.83% for the day. The stock had closed at $21.21 on the previous day. The total traded volume was 3,319,732 shares.
The company shares have dropped -16.63% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $24.33 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $20.88 and the 200 Day Moving Average price is recorded at $19.16.
Rexnord Corporation (NYSE:RXN) has tumbled 8.86% during the past week and has dropped 6.01% 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 7.35%. Rexnord Corporation (NYSE:RXN) has underperformed the index by 3.17% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Rexnord Corporation (Rexnord) is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services engineered mechanical components, such as gears and gear drives, couplings, industrial bearings, FlatTop and engineered chain, aerospace bearings and seals, under various brands, including Rexnord, Rex, Falk and Link-Belt. The Water Management platform designs, procures, manufactures and markets products that provide water quality, safety, flow control and conservation under brands, such as Zurn, Wilkins, VAG, GA, Rodney Hunt and Fontaine. The Water Management product portfolio includes specification drainage products, sensor flush valves and faucet products, pressure release valves, sluice and slide gates, butterfly and plug valves, control valves and actuation systems, and cross-linked polyethylene (PEX) piping.