Generac Holdlings (GNRC) : 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 7,640,400 to 7,128,008 shares, with 9 days to go before the expiry. The short open interest has decreased by -6.7%, amounting to a reduction of -512,392 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 11% of the float of the company. The average daily volume of the stock is 805,508 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Generac Holdlings (NYSE:GNRC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $37.13 and $37.12 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.26. The buying momentum continued till the end and the stock did not give up its gains. It closed at $37.76, notching a gain of 1.70% for the day. The total traded volume was 1,174,647 . The stock had closed at $37.13 on the previous day.
In a related news,The officer (Chief Financial Officer) of Generac Holdings Inc., Ragen York A. sold 12,500 shares at $37.46 on May 25, 2016. The Insider selling transaction had a total value worth of $468,250. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Generac Holdings Inc. is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its other engine powered products that it designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of power washers for residential and commercial use. It designs, manufactures, sources and modifies engines, alternators, transfer switches and other components necessary for its products. It also sells direct to certain national and regional account customers, including telecommunication, retail, banking, convenience stores, grocery stores and other light commercial applications. Its products include residential products, commercial and industrial (C&I) products, and other products.