Alon USA Energy (ALJ) : 4 days before expiry, shorts in Alon USA Energy (ALJ) have reduced from 6,112,432 on Jul 29, 2016, to 5,426,724 on August 15, 2016. On an average, 1,504,849 shares are traded on the exchange. The outstanding bearish positions are equal to 17.1% of the float. Short sellers have covered -685,708 shares, a reduction of -11.2%, 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.
Alon USA Energy (NYSE:ALJ): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.25 and $7.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.38, notching a gain of 0.96% for the day. The total traded volume was 776,668 . The stock had closed at $7.31 on the previous day.
In a related news,The director officer (Executive Director) of Alon Usa Energy, Inc., Wiessman David sold 75,000 shares at $7.36 on August 17, 2016. The Insider selling transaction had a total value worth of $552,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Alon USA Energy, Inc. is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Companys crude oil refineries are located in Texas, Louisiana and California and have a combined crude oil throughput capacity of approximately 217,000 barrels per day (bpd). The Company has three operating segments: refining and marketing, asphalt and retail. Its refineries produce petroleum products including various grades of gasoline, diesel fuel, jet fuel, petrochemicals, petrochemical feedstocks, asphalt and other petroleum-based products. The Companys refining and marketing segment includes sour crude oil refinery located in Big Spring, Texas, a light sweet crude oil refinery located in Krotz Springs, Louisiana and heavy crude oil refineries located in Paramount, Bakersfield and Long Beach, California. The Company owns or operates approximately 10 asphalt terminals.