Short Interest Worth Watching: Now Incorporated (NYSE:DNOW) on Focus After Report of Less Shorts

December 1, 2016 - By Ellis Scott   ·   0 Comments

Short Interest Worth Watching: Now Incorporated (NYSE:DNOW) on Focus After Report of Less Shorts

The stock of Now Incorporated (NYSE:DNOW) registered a decrease of 2.47% in short interest. DNOW’s total short interest was 11.61M shares in December as published by FINRA. Its down 2.47% from 11.91 million shares, reported previously. With 865,600 shares average volume, it will take short sellers 13 days to cover their DNOW’s short positions. The short interest to Now Incorporated’s float is 11.18%. About 359,707 shares traded hands. NOW Inc (NYSE:DNOW) has risen 22.18% since April 28, 2016 and is uptrending. It has outperformed by 16.25% the S&P500.

NOW Inc. is a global distributor to energy and industrial markets. The company has a market cap of $2.56 billion. The Firm operates primarily under the DistributionNOW and Wilson Export brands. It currently has negative earnings. The Firm operates through three divisions: United States (U.S.), Canada and International.

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.02, from 0.97 in 2016Q1. The ratio dived, as 35 funds sold all NOW Inc shares owned while 84 reduced positions. 28 funds bought stakes while 88 increased positions. They now own 105.81 million shares or 1.43% more from 104.32 million shares in 2016Q1.
The California-based Tarbox Group Inc has invested 0.01% in NOW Inc (NYSE:DNOW). Panagora Asset Mgmt Inc owns 10,805 shares or 0% of their US portfolio. Wells Fargo & Mn holds 0.01% of its portfolio in NOW Inc (NYSE:DNOW) for 909,193 shares. Amalgamated Bank has invested 0.02% of its portfolio in NOW Inc (NYSE:DNOW). M&R Capital accumulated 9,207 shares or 0.05% of the stock. California State Teachers Retirement accumulated 224,750 shares or 0.01% of the stock. Architects accumulated 153 shares or 0% of the stock. Carroll Assocs holds 161 shares or 0% of its portfolio. Smithfield Tru has 0% invested in the company for 22 shares. Investmentaktiengesellschaft Fuer Langfristige Investoren Tgv accumulated 0.49% or 100,000 shares. Boston Prtn holds 45,935 shares or 0% of its portfolio. Parametric Assoc Limited Liability Company holds 0.01% of its portfolio in NOW Inc (NYSE:DNOW) for 265,004 shares. Kanaly last reported 229 shares in the company. Ftb Advsrs last reported 1,203 shares in the company. Hsbc Holdings Public Limited Liability Com has 22,539 shares for 0% of their US portfolio.

NOW Inc (NYSE:DNOW) Ratings Coverage

Out of 7 analysts covering Now Inc (NYSE:DNOW), 0 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 0 are positive. Now Inc has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Thursday, August 6, the company rating was downgraded by Stephens. On Wednesday, February 24 the stock rating was maintained by JP Morgan with “Neutral”. The firm has “Neutral” rating given on Tuesday, September 15 by Credit Suisse. The rating was initiated by KeyBanc Capital Markets with “Sector Weight” on Friday, December 18. Cowen & Co initiated NOW Inc (NYSE:DNOW) on Friday, September 16 with “Market Perform” rating.

DNOW Company Profile

NOW Inc. (NOW), incorporated on November 22, 2013, is a global distributor to energy and industrial markets. The Firm operates primarily under the DistributionNOW and Wilson Export brands. The Firm operates through three divisions: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications. The Company’s energy product offering is consumed throughout all sectors of the gas and oil industry from upstream drilling and completion, exploration and production (E&P), midstream infrastructure development to downstream petroleum refining, as well as in other industries, such as chemical processing, utilities and industrial manufacturing operations. The industrial distribution portion of its business targets a range of end markets, including manufacturing, engineering and construction and refineries. The Firm also provides supply chain management to drilling contractors, E&P operators, midstream operators and downstream energy, and industrial manufacturing companies around the world.

More news for NOW Inc (NYSE:DNOW) were recently published by: Fool.com, which released: “NOW Inc.’s Results Bounce Off the Bottom” on November 02, 2016. Fool.com‘s article titled: “NOW Inc’s Stock Slumps Despite Improving Financial Results” and published on November 02, 2016 is yet another important article.

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By Ellis Scott

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