Summit Materials June 15th Short Interest Update

Summit Materials (NYSE:SUM) reported a rise of 3.5% or 116,257 shares in its short interest. The short figure came in at 5.5% of the total floats. The average daily volume of 852,761 shares suggests that the days to cover 3,451,052 short positions, as on June 15,2016, will be 4. On May 31,2016, the short interest was 3,334,795 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Summit Materials (NYSE:SUM): The stock opened at $20.00 on Friday but the bulls could not build on the opening and the stock topped out at $20.77 for the day. The stock traded down to $19.85 during the day, due to lack of any buying support eventually closed down at $20.02 with a loss of -4.67% for the day. The stock had closed at $21.00 on the previous day. The total traded volume was 4,485,405 shares.

The company shares have dropped -20.14% from its 1 Year high price. On Aug 18, 2015, the shares registered one year high at $27.89 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $21.17 and the 200 Day Moving Average price is recorded at $19.13.

Summit Materials (NYSE:SUM) has tumbled 0.15% during the past week and has dropped 9.98% in the last 4 week period. The company has outperformed the S&P 500 by 1.51% in the past week but underperformed the index by 7.26% in the last 4 weeks.

Summit Materials, Inc. is a construction material company. The Company offers construction materials and related downstream products. The Companys materials include aggregates, which it supplies across the country, with a focus on Texas, Kansas, Kentucky, Utah and Missouri and cement, which the Company supplies in Missouri, Iowa and Illinois. In addition to supplying aggregates, it uses its materials to produce ready-mixed concrete and asphalt paving mix. The Company operates through three segments: West, Central and East. The Companys West region includes operations in Texas, the Mountain states of Utah, Colorado, Idaho and Wyoming and in British Columbia, Canada. The Companys Central region extends across the Midwestern United States, including Kansas, Missouri, Nebraska, Iowa and Illinois. The Companys East region serves markets in Kentucky, South Carolina, North Carolina, Tennessee and Virginia.

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