Symantec Corporation (SYMC): Price Target and June Short Interest Disclosure

Symantec Corporation (SYMC) stock is expected to deviate a maximum of $3.59 from the average target price of $20.65 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $24 and the most muted being $14.

Symantec Corporation (SYMC) has seen a rise of 15,867,942 shares or 94.5% in the short interest. The remaining shorts are 5.3% of the total floated shares. The net short interest, as on June 30,2016, stood at 32,660,282 shares and the stocks days to cover will be 2 by factoring in the average per day volume of 17,437,728 shares. On June 15,2016, 16,792,340 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm Evercore ISI Group upgrades its rating on Symantec Corporation (NASDAQ:SYMC). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Sell by the brokerage firm. The rating by the firm was issued on June 29, 2016.


Symantec Corporation (NASDAQ:SYMC): On Thursdays trading session , Opening price of the stock was $21.22 with an intraday high of $21.3. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $20.93. However, the stock managed to close at $20.94, a loss of 0.76% for the day. On the previous day, the stock had closed at $21.1. The total traded volume of the day was 5,181,829 shares.

Symantec Corporation provides security, backup and availability solutions. The Company operates in three segments: Consumer Security, Enterprise Security, and Information Management. The Companys products and services offer protection of information in any environment from the mobile device, to the enterprise data center, to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions, application bug fixes and patches for its consumer product. The Companys enterprise security support program offers annual maintenance support contracts, including content, upgrades and technical support. The Companys Consumer Security segment offers Norton-branded services, which provide multi-layer security and identity protection on desktop and mobile operating systems, to defend against online threats to individuals, families and small businesses.

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