SM Energy Stock Sees Short Interest Drop 29%

Dec 26 2013, 10:40am CST | by

The most recent short interest data has been released by the NASDAQ for the 12/13/2013 settlement date, which shows a 811,410 share decrease in total short interest for SM Energy Co. (NYSE: SM), to 1,978,460, a decrease of 29.08% since 11/29/2013. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the “days to cover” metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for SM at the 12/13/2013 settlement increased to 1,217,181, as compared to 754,115 at the 11/29/2013 report. That brought “days to cover” down to 1.63, a 56.06% decrease from the 3.70 days to cover calculated at the previous short interest data release.

Start slideshow:
Top 25 S.A.F.E. Dividend Stocks »/>

The below chart shows the historical “days to cover” for SM at previous short interest release dates:

A decreased “days to cover” value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where SM had been shorted as a hedge.

The chart below shows the one year performance of SM shares, versus its 200 day moving average. Looking at this chart, SM’s low point in its 52 week range is $49.08 per share, with $94.00 as the 52 week high point — that compares with a last trade of $82.60.

SM makes up 2.50% of the Dynamic Energy Exploration & Production Portfolio ETF (PXE)

In afternoon trading Thursday, SM was off about 0.4% on the day.

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

New factor in liver cancer progression discovered
Vienna, Nov 21 (IANS) Researchers from the Medical University of Vienna in Austria have discovered a new factor in the development and progression of the most common type of liver cancer, hepatocellular carcinoma (HCC), the university has said.
 
 
Rare worm in British man's brain sequenced
London, Nov 21 (IANS) For the first time, the genome of a rarely seen tapeworm - residing in a British man's brain for four years - has been sequenced, offering new opportunities to diagnose and treat this invasive parasite.
 
 
'Sexual orientation not a choice, influenced by genetics'
London, Nov 21 (IANS) In the largest study of its kind, genetic analysis of 409 pairs of gay brothers, including sets of twins, has linked sexual orientation in men with two regions of the human genome.
 
 
Ignore online security warnings at your own risk
New York, Nov 21 (IANS) People are their own worst enemies when it comes to online security, a study indicates.
 
 
 

Latest from the Network

Saina goes down in Hong Kong Open quarters
Hong Kong, Nov 21 (IANS) Top Indian shuttler Saina Nehwal could not replicate her last week's China Open title win as she went down in straight games in the women's singles quarterfinals of the $350,000 Hong Kong Open...
Read more on Sport Balla
 
'Earth on track to warmest year on record'
Washington, Nov 21 (IANS) The globally averaged temperatures for October as well as the January-to-October period were both the highest on record since record keeping began in 1880, the US National Oceanic and...
Read more on Politics Balla
 
New factor in liver cancer progression discovered
Vienna, Nov 21 (IANS) Researchers from the Medical University of Vienna in Austria have discovered a new factor in the development and progression of the most common type of liver cancer, hepatocellular carcinoma (HCC...
Read more on Business Balla
 
Faris, Pratt open up about premature baby birth
Los Angeles, Nov 21 (IANS) Actress Anna Faris and husband Chris Pratt say that they were devasted when informed about the premature birth of their son. However their fath in god was restored when they saw the child....
Read more on Celebrity Balla
 
Rare worm in British man's brain sequenced
London, Nov 21 (IANS) For the first time, the genome of a rarely seen tapeworm - residing in a British man's brain for four years - has been sequenced, offering new opportunities to diagnose and treat this invasive...
Read more on Business Balla
 
Court orders inclusion of co-accused in Musharraf case
Islamabad, Nov 21 (IANS) A special court in Pakistan Friday ordered the inclusion of three co-accused in the treason case against former president Pervez Musharraf and proceedings against those who advised him to...
Read more on Politics Balla
 
'Sexual orientation not a choice, influenced by genetics'
London, Nov 21 (IANS) In the largest study of its kind, genetic analysis of 409 pairs of gay brothers, including sets of twins, has linked sexual orientation in men with two regions of the human genome. Two genes, one...
Read more on Business Balla
 
Ignore online security warnings at your own risk
New York, Nov 21 (IANS) People are their own worst enemies when it comes to online security, a study indicates. People care about keeping their computers secure, security warnings are conveniently ignored while...
Read more on Business Balla
 
Will support anything North West wants to do: Kim
Los Angeles, Nov 21 (IANS) Reality TV star Kim Kardashian says she will support her daughter North West in whatever she wants do in her life. Kim, who is married to rapper Kanye West, would have no problem if her...
Read more on Celebrity Balla
 
I feel terrified with The Cumberbitches: Keira Knightley
Los Angeles, Nov 21 (IANS) Actress Keira Knightley, who has worked with Benedict Cumberbatch in "The Imitation Game", feels "terrified" with the female fans of the actor. The British actress was talking about her new...
Read more on Celebrity Balla