Short Interest Update on 8×8 Inc (EGHT)

8×8 Inc (EGHT) : 3 days before expiry, shorts in 8×8 Inc (EGHT) have reduced from 2,457,193 on Jul 29, 2016, to 1,974,901 on August 15, 2016. On an average, 608,647 shares are traded on the exchange. The outstanding bearish positions are equal to 2.2% of the float. Short sellers have covered -482,292 shares, a reduction of -19.6%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

8×8 Inc (NASDAQ:EGHT): The stock opened at $13.59 on Wednesday but the bulls could not build on the opening and the stock topped out at $13.76 for the day. The stock traded down to $13.38 during the day, due to lack of any buying support eventually closed down at $13.46 with a loss of -1.10% for the day. The stock had closed at $13.61 on the previous day. The total traded volume was 545,504 shares.


In a related news, The Securities and Exchange Commission has divulged that Martin Bryan R, officer (Chief Technology Officer) of 8×8 Inc /De/, had unloaded 43,142 shares at an average price of $12.45 in a transaction dated on May 24, 2016. The total value of the transaction was worth $537,118.

8×8, Inc. (8×8) offers Software as a Service (SaaS) communication solution. The Company is engaged in business cloud communications and development and use of Internet protocol voice, video and data communication technologies in a true SaaS model. The 8×8 unified cloud communications solution addresses the shortcomings of legacy and point solution cloud services through its pure cloud Software as a Service offering. The Companys Infrastructure Manager abstracts complex global interconnectivity between Voice over Internet Protocol (VoIP) and traditional public switched telephone network (PSTN) providing customers with a phone system that can reach any phone in the world whether wireless or wireline. Its Integration Manager integrates with third-party applications, including, Microsoft Dynamics, NetSuite, Zendesk and many others, to provide integrated applications functionality within its communications and collaboration services.

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