Boston Beer Company (The) (SAM) : Traders are negative on Boston Beer Company (The) (SAM), as it has 19.7% of short positions outstanding compared to its float. The total shorts have reduced by -32,026 shares, which is a -1.8% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,1,779,268 to 1,747,242 shares. While the daily trading volume of the stock is 91,400, there are 19 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Boston Beer Company (The) (NYSE:SAM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $189.59 and $188.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $193.56. The buying momentum continued till the end and the stock did not give up its gains. It closed at $191.79, notching a gain of 0.69% for the day. The total traded volume was 159,065 . The stock had closed at $190.47 on the previous day.
In a related news, The officer (Vice President of Brewing), of Boston Beer Co Inc, Grinnell David L. had unloaded 1,000 shares at $187.69 per share in a transaction on August 18, 2016. The total value of transaction was $187,690. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
The Boston Beer Company, Inc. (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. As of December 31, 2014, Boston Beer sold approximately 4.1 million barrels of its products. As of December 31, 2014, the Company sold over sixty beers under the Samuel Adams or the Sam Adams brand names, eleven flavored malt beverages under the Twisted Tea brand name, ten hard cider beverages under the Angry Orchard brand name, and over twenty beers under four of the brand names of its subsidiary, Alchemy & Science. Boston Beer produces malt beverages and hard cider at the Company-owned breweries and under contract arrangements at other brewery locations.