MobileIron (MOBL) : 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 2,084,080 to 1,888,933 shares, with 11 days to go before the expiry. The short open interest has decreased by -9.4%, amounting to a reduction of -195,147 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 5.7% of the float of the company. The average daily volume of the stock is 178,267 shares. The short interest information was released on Wednesday Aug 24th after the market close.
MobileIron (NASDAQ:MOBL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.00 and $2.95 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.09. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.02, notching a gain of 0.67% for the day. The total traded volume was 311,924 . The stock had closed at $3.00 on the previous day.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CEO of Mobileiron, Inc., Mainz Barry, had purchased 51,200 shares in a transaction dated on March 3, 2016. The transaction was executed at $3.9 per share with total amount equaling $199,680.
MobileIron, Inc., formerly Mobile Iron, Inc., provides a purpose-built mobile Information Technology (IT) platform for enterprises to secure and manage mobile applications, or apps, content and devices while providing their employees with device choice, privacy and a native user experience. The Company has introduced new products and functionality to address the management and security of mobile applications and content, and has extended its solution to a cloud offering to enable deployment flexibility for its customers. The Companys platform enables four areas of functionality, which include Mobile Device Management (MDM), Mobile Application Management (MAM), Mobile Content Management (MCM) and Advanced Services. It focuses on customers of all sizes across a range of industries, including financial services, government, healthcare, legal, manufacturing, professional services, retail, technology and telecommunications.