SciQuest June 15th Short Interest Update

SciQuest (NASDAQ:SQI), A reduction of 426,664 shares or 44.9% was observed in the short interest of SciQuest, Inc. The interest on June 15,2016 came in at 523,606 shares and as per the average daily trading of 512,902 shares, the days to cover are 1. The reduced interest is 2% of the floated shares. The data of May 31,2016 put the interest at 950,270 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

SciQuest (NASDAQ:SQI): The stock opened at $17.59 on Friday but the bulls could not build on the opening and the stock topped out at $17.69 for the day. The stock traded down to $17.54 during the day, due to lack of any buying support eventually closed down at $17.59 with a loss of -0.73% for the day. The stock had closed at $17.72 on the previous day. The total traded volume was 2,573,058 shares.

The company shares have rallied 19.74% from its 1 Year high price. On May 31, 2016, the shares registered one year high at $17.81 and the one year low was seen on Oct 27, 2015. The 50-Day Moving Average price is $15.62 and the 200 Day Moving Average price is recorded at $13.73.

SciQuest (NASDAQ:SQI) has tumbled 0.23% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 32.56% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 1.43% and the outperformance has advanced to 36.57% for the last 4 weeks period.

SciQuest, Inc. provides cloud-based business automation solutions for spend management. The Companys offers procurement solutions that automate the source-to-settle process; spend analysis solutions that cleanse and classify spend data to drive and measure cost savings; supplier management solutions that facilitate its customers interactions with their suppliers; contract lifecycle management solutions that automate the contract lifecycle from contract creation through maintenance, and accounts payable solutions that automate the invoice processing and vendor payment processes. The Companys SciQuest Supplier Network is Software-as-a-Service (SaaS) communications hub that enables transaction interactions between its customers and their suppliers through its procurement, accounts payable and supplier management solutions. It is the single integration point between its customers and their suppliers that provides customers with supplier information, including supplier catalogs.

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