Steelcase June 15th Short Interest Update

Steelcase (NYSE:SCS) has witnessed a drop of 2.7% or 60,609 shares in its short figure. The short interest diminution took it from 2,278,989 on May 31,2016 to 2,218,380 on June 15,2016. In terms of floated shares, the short interest was calculated to be 2.7%. The days to cover are 5 given that the daily volume averaged 488,877 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Steelcase (NYSE:SCS): The stock opened at $13.95 on Friday but the bulls could not build on the opening and the stock topped out at $14.27 for the day. The stock traded down to $13.76 during the day, due to lack of any buying support eventually closed down at $14.06 with a loss of -2.77% for the day. The stock had closed at $14.46 on the previous day. The total traded volume was 2,215,782 shares.

The company shares have dropped -26.04% from its 1 Year high price. On Dec 3, 2015, the shares registered one year high at $20.37 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $15.37 and the 200 Day Moving Average price is recorded at $14.63.

Steelcase (NYSE:SCS) has tumbled 8.04% during the past week and has dropped 11.46% 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 6.52%. Steelcase (NYSE:SCS) has underperformed the index by 8.78% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Steelcase Inc. (Steelcase) provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Companys furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools. Its seating products include task chairs which are ergonomic, seating that can be used in collaborative or casual settings and specialty seating for specific vertical markets, such as healthcare and education. The Companys technology solutions support group collaboration by integrating furniture and technology. Its interior architectural products include full and partial height walls and doors. The Companys family of brands include Steelcase, Coalesse, Details, Designtex, PolyVision and Turnstone. The Companys operational segments include Americas, Europe, the Middle East and Africa (EMEA), Other Category and Corporate.

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