Cognex Corporation (CGNX) : The traders have covered their outstanding shorts in Cognex Corporation (CGNX) to the tune of -560,158 shares, a change of -14.4%. As on Jul 29, 2016, the outstanding shorts on the stock were 3,888,355 shares, however, by August 15, 2016, the shorts had reduced to 3,328,197 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 4.1% of the free float of the stock. It takes 5 days to cover the outstanding short positions. The stock has an average daily volume of 713,560 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Cognex Corporation (NASDAQ:CGNX): The stock opened at $50.12 on Wednesday but the bulls could not build on the opening and the stock topped out at $50.17 for the day. The stock traded down to $49.62 during the day, due to lack of any buying support eventually closed down at $49.86 with a loss of -0.64% for the day. The stock had closed at $50.18 on the previous day. The total traded volume was 229,207 shares.
In a related news, Morin Richard, officer (Sr. VP F&A, CFO) of Cognex Corp, unloaded 5,600 shares at an average price of $50.36 on August 16, 2016. The total amount of the transaction was worth $282,016, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Cognex Corporation is a provider of machine vision products that captures and analyzes visual information in order to automate tasks, primarily in manufacturing processes. The Company operates in the modular vision systems division (MVSD). The Companys products include barcode readers, machine vision sensors and machine vision systems that are used in factories, warehouses and distribution centers around the world. MVSD develops, manufactures and markets modular vision systems and identification (ID) products that are used to automate the manufacture and tracking of discrete items, such as cellular phones, aspirin bottles and automobile wheels during the manufacturing or distribution process. The Companys registered marks include Cognex, VisionPro, In-Sight, Checker and DataMan, among others.