On Deck Capital (ONDK) : 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 5,539,781 to 4,891,760 shares, with 7 days to go before the expiry. The short open interest has decreased by -11.7%, amounting to a reduction of -648,021 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 12.9% of the float of the company. The average daily volume of the stock is 683,019 shares. The short interest information was released on Wednesday Aug 24th after the market close.
On Deck Capital (NYSE:ONDK): The stock opened at $6.15 on Wednesday but the bulls could not build on the opening and the stock topped out at $6.27 for the day. The stock traded down to $6.06 during the day, due to lack of any buying support eventually closed down at $6.09 with a loss of -0.49% for the day. The stock had closed at $6.12 on the previous day. The total traded volume was 283,456 shares.
In a related news, The Securities and Exchange Commission has divulged that Sinigaglia Nicholas A, officer (SVP/Principal Accounting Ofcr) of On Deck Capital, Inc., had unloaded 1,000 shares at an average price of $6 in a transaction dated on August 9, 2016. The total value of the transaction was worth $6,000.
On Deck Capital, Inc. is an online platform for small business lending. The Company aggregates and analyzes data points from disparate data sources to assess the creditworthiness of small businesses. Small businesses apply for a term loan or line of credit on the Companys Website and, using its OnDeck Score, the Company makes a funding decision and transfers the funds. The Company offers two products to small businesses to access capital: term loans and lines of credit. The Companys end-to-end integrated platform includes the Companys Website, which allows small businesses to apply for a loan in minutes, around the clock; data and analytics engine, analyzes thousands of data attributes from disparate sources to assess the real-time creditworthiness of a small business; the technology, which offers seamless funding of loans, and daily and weekly collections and ongoing servicing system.