The Michaels Companies (NASDAQ:MIK), A drop of 85,300 shares or 1.9% was seen in the short interest of The Michaels Companies, Inc.. Even as the interest dropped from 4,599,803 shares on May 31,2016 to 4,514,503 shares on June 15,2016, the days to cover came in at 2. The updated interest stood at 4.9% of the stocks floats. The stock has seen an average daily volume of 1,963,775 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
The Michaels Companies (NASDAQ:MIK): The stock opened at $26.34 on Friday but the bulls could not build on the opening and the stock topped out at $27.24 for the day. The stock traded down to $26.34 during the day, due to lack of any buying support eventually closed down at $27.01 with a loss of -0.92% for the day. The stock had closed at $27.26 on the previous day. The total traded volume was 4,000,965 shares.
The company shares have rallied 2.66% from its 1 Year high price. On Jun 6, 2016, the shares registered one year high at $31.37 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $28.10 and the 200 Day Moving Average price is recorded at $25.24.
Stocks of The Michaels Companies (NASDAQ:MIK) rallied by 0.82% during the past week but lost 6.93% on a 4-week basis. The company has outperformed the S&P 500 by 2.49% in the past week but underperformed the index by 4.11% in the last 4 weeks.
The Michaels Companies, Inc. is an arts and crafts specialty retailer in North America. The Company owns and operates a chain of retail stores in 49 states and Canada featuring arts, crafts, framing, floral, home decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The Company also operates a vertically integrated custom framing business. The Company provides materials, project ideas and education for creative activities. The Company has approximately 35,000 stock-keeping units (SKUs) in arts, crafts, scrapbooking, floral, framing, home decor, seasonal offerings and childrens hobbies. It has developed an online platform, which promotes social networking, and includes tips, project ideas, marketing content and information on upcoming store events. The Companys subsidiaries include Aaron Brothers, Inc., Artistree of Canada, ULC, and Michaels Stores Procurement Company.