Harris Corporation (HRS) : 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 4,207,118 to 3,742,009 shares, with 4 days to go before the expiry. The short open interest has decreased by -11.1%, amounting to a reduction of -465,109 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 3% of the float of the company. The average daily volume of the stock is 909,477 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Harris Corporation (NYSE:HRS): The stock opened at $91.35 on Wednesday but the bulls could not build on the opening and the stock topped out at $91.99 for the day. The stock traded down to $90.91 during the day, due to lack of any buying support eventually closed down at $91.02 with a loss of -0.35% for the day. The stock had closed at $91.34 on the previous day. The total traded volume was 638,983 shares.
In a related news, The Securities and Exchange Commission has divulged that Fox Sheldon J, officer (SVP, Integration & Engineering) of Harris Corp /De/, had unloaded 17,700 shares at an average price of $89.02 in a transaction dated on August 8, 2016. The total value of the transaction was worth $1,575,654.
Harris Corporation (Harris) together with its subsidiaries is engaged in providing technology-based solutions to government and commercial customers. As of July 3, 2015, the Company operated through four business segments: RF Communications, Government Communications Systems, Integrated Network Solutions and Exelis. The RF Communications segment is engaged in serving the United States Department of Defense (DoD) and International Tactical Communications, and public safety and professional communications markets. The Government Communications Systems segment is engaged in serving civil, national intelligence and defense markets. The Integrated Network Solutions segment is engaged in serving information technology (IT) services, and managed satellite and terrestrial communications solutions markets. The Exelis segment provides positioning and navigation, sensors, air traffic management solutions, image processing and distribution, communications and information systems.