Spartan Motors (NASDAQ:SPAR) has witnessed a drop of 57.2% or 268,204 shares in its short figure. The short interest diminution took it from 468,626 on May 31,2016 to 200,422 on June 15,2016. In terms of floated shares, the short interest was calculated to be 0.7%. The days to cover are 1 given that the daily volume averaged 240,500 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Spartan Motors (NASDAQ:SPAR): The stock opened at $6.04 on Friday but the bulls could not build on the opening and the stock topped out at $6.22 for the day. The stock traded down to $5.52 during the day, due to lack of any buying support eventually closed down at $5.76 with a loss of -8.72% for the day. The stock had closed at $6.31 on the previous day. The total traded volume was 3,274,102 shares.
The company shares have rallied 26.04% from its 1 Year high price. On Jun 1, 2016, the shares registered one year high at $6.50 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $6.08 and the 200 Day Moving Average price is recorded at $4.28.
Spartan Motors (NASDAQ:SPAR) has tumbled 3.19% during the past week and has dropped 8.86% 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 1.59%. Spartan Motors (NASDAQ:SPAR) has underperformed the index by 6.1% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Spartan Motors, Inc. is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Companys Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment. The Delivery and Service Vehicles segment manufactures delivery and service vehicles through the Companys subsidiary, Utilimaster Corporation (Utilimaster). The Companys Specialty Chassis and Vehicles segment consists of the operations of Spartan Motors Chassis, Inc. (Spartan Chassis) that engineer and manufacture motor home chassis, defense vehicles and other specialty chassis, and distribute related aftermarket parts and assemblies. The Company markets its products under brands, such as Spartan ERV, Aeromaster, Trademaster, Metromaster and Utilivan.