Blackhawk Network Holdings (HAWK) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 3,416,801 to 3,252,291 shares, with 3 days to go before the expiry. The short open interest has decreased by -4.8%, amounting to a reduction of -164,510 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 5.9% of the float of the company. The average daily volume of the stock is 949,993 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Blackhawk Network Holdings (NASDAQ:HAWK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.66 and $32.53 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.91, notching a gain of 0.89% for the day. The total traded volume was 559,890 . The stock had closed at $32.62 on the previous day.
In a related news, Sarin Arun, director of Blackhawk Network Holdings, Inc, unloaded 25,000 shares at an average price of $35.92 on July 28, 2016. The total amount of the transaction was worth $898,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Blackhawk Network Holdings, Inc. (Blackhawk) is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, and related prepaid products and payment services in the United States and 21 other countries. It operates in two segments: US Retail and Incentives & Rewards, and International Retail. US Retail and Incentives & Rewards segment consists of the various operating segments of its United States retail products, online channel, secondary card market and incentive and reward solutions and derives revenues from sales of prepaid products to consumers at its United States retail distribution partners, online and through its card exchange and prepaid products to consumers through business clients. Its International Retail segment consists of the various operating segments of its geographic regions and derives revenues from sales of prepaid products to consumers at its international retail distribution partners.