Super Micro Computer (SMCI) : 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 3,340,077 to 2,838,527 shares, with 6 days to go before the expiry. The short open interest has decreased by -15%, amounting to a reduction of -501,550 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 7.4% of the float of the company. The average daily volume of the stock is 440,109 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Super Micro Computer (NASDAQ:SMCI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.63 and $21.53 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.01. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.66, notching a gain of 0.19% for the day. The total traded volume was 437,918 . The stock had closed at $21.62 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Hideshima Howard, officer (Chief Financial Officer) of Super Micro Computer, Inc., had unloaded 20,312 shares at an average price of $26.2 in a transaction dated on May 31, 2016. The total value of the transaction was worth $532,174.
Super Micro Computer, Inc. offers server technology. The Company develops and provides end-to-end green computing solutions to the data center, cloud computing, enterprise information technology information technology (IT), big data, high performance computing (HPC) and embedded markets. The Companys solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services. It sells its server systems and server subsystems and accessories through a combination of distributors, including value added resellers and system integrators, and other equipment manufacturers (OEMs), as well as through its direct sales force. As of June 30, 2015, the Company offered over 4,550 stock keeping units (SKUs), including SKUs for server and storage systems, serverboards, chassis, power supplies and other accessories. The Company develops and manufactures server solutions based upon a modular and open architecture.