Silver Standard Resources (NASDAQ:SSRI) reported a drop of 25.1% or 1,290,438 shares in its short interest. The short figure came in at 4.8% of the total floats. The average daily volume of 2,749,289 shares suggests that the days to cover 3,848,571 short positions, as on June 15,2016, will be 1. On May 31,2016, the short interest was 5,139,009 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Silver Standard Resources (NASDAQ:SSRI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.24 and $11.85 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.39. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.02, notching a gain of 4.98% for the day. The total traded volume was 4,109,863 . The stock had closed at $11.45 on the previous day.
The company shares have rallied 93.56% from its 1 Year high price. On Jun 24, 2016, the shares registered one year high at $12.39 and the one year low was seen on Jan 21, 2016. The 50-Day Moving Average price is $10.12 and the 200 Day Moving Average price is recorded at $6.93.
Silver Standard Resources (NASDAQ:SSRI) has climbed 4.98% in the past week and advanced 38% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 6.72% and the outperformance has advanced to 42.18% for the last 4 weeks period.
Silver Standard Resources Inc. is a resource company. The Company is focused on the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company operates through three segments: Pirquitas mine, Marigold mine, and Exploration and evaluation properties. As of February 18, 2015, the Company had two producing mines and a portfolio of silver resource dominant projects located throughout the Americas. The Company is primarily focused on silver production from the Pirquitas mine in Argentina, and gold production from the Marigold mine in Nevada, the United States. The Companys development projects include San Lius, Peru; Pitarrilla, Mexico, and Diablillos, Argentina. Its exploration projects consist of Berenguela, Peru; Candelaria, the United States; Maverick Springs, the United States; San Marcial, Mexico; Sunrise Lake, Canada, and Parral Mining District, Mexico.